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Godrej Properties has signed a joint development agreement to develop an 18-acre residential project in Thane, Mumbai, with potential revenues exceeding INR 7,500 crore. The company, which expands through both land acquisition and joint ventures, considers Thane a key market in the Mumbai Metropolitan Region. The project will be its fourth in Thane. Strong sales growth has positioned Godrej Properties on track to meet its full-year revenue target of INR 32,500 crore for the 2025-26 fiscal, reflecting robust demand and strategic market expansion.
Godrej Properties Ltd has joined hands with a landowner to develop an 18-acre housing project in Thane, Mumbai, with an estimated revenue potential of over INR 7,500 crore. The Mumbai-based realty firm shared in a regulatory filing that it has entered into a joint development agreement for the land parcel, though it did not disclose the name of the landowner involved. Advertisement
The proposed development is expected to be primarily residential. Godrej Properties follows a dual approach for growth, acquiring land outright or entering joint development arrangements with landowners to create housing projects across high-potential markets.
Gaurav Pandey, MD & CEO of Godrej Properties, explained that strategic expansion in high-potential micro-markets is central to the company's growth approach. He noted that Thane has emerged as one of the most attractive locations in the Mumbai Metropolitan Region, and the upcoming project will mark the company's fourth residential venture in the area.
Godrej Properties is among India's leading real estate developers. Its sales bookings increased 25% to INR 24,008 crore in the first nine months of the fiscal year, and the company remains confident of achieving its full-year target of INR 32,500 crore for 2025-26.
Source PTI
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