Shares of Godrej Properties Ltd were trading in the green and 1% higher on 23 February after the company announced a joint development agreement for an 18-acre property block in Thane, Mumbai, with a revenue potential of over Rs 7,500 crore.
It stated that the land parcel is located in Thane’s established micro-market, with access to both existing and upcoming infrastructure, such as the Thane-Wadala Metro and the Thane-Borivali twin-tube tunnel.
According to the company, key connectivity catalysts such as the Thane Coastal Road, the Mumbai-Ahmedabad Bullet Train (with a dedicated Thane station), and multiple proposed metro corridors are expected to significantly reduce travel times, benefiting surrounding catchments, increasing the attractiveness of the micro-market, and improving access to major residential, commercial, and employment hubs throughout the Mumbai Metropolitan Region.
“Thane has evolved into one of MMRs most attractive locations offering a strong mix of public spaces and lifestyle amenities. This development is our fourth in Thane and the large format of the land will allow for a well-planned integrated residential development,” Godrej Properties MD and CEO Gaurav Pandey said.
Earlier this month, Pandey said that the company expected demand in its primary micro-markets to remain resilient and largely end-user driven, even if speculative activity in portions of NCR slows.
Pandey stated that the company’s strategy will remain focused on consistent launch execution, maintaining booking momentum, and disciplined capital deployment, with management optimistic that consistent operating performance will support growth despite near-term market volatility.
However, at 12:44 pm, the shares of Godrej Properties were trading 1.12% lower at Rs 1,805.20 on NSE.
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