New Delhi, February 23 Godrej Properties Ltd, a real estate firm, has partnered with a landowner to develop a 18-acre housing project in the Mumbai region, with an estimated revenue potential of over ₹7,500 crore, as part of its expansion plan.
In a regulatory filing on Monday, the Mumbai-based company announced that it had "entered into a joint development agreement to develop an 18-acre land parcel in Thane, Mumbai."
The company did not disclose the name of the landowner with whom it had signed the agreement.
"The proposed development will be primarily a residential project with an estimated revenue potential of over ₹7,500 crore," it said.
To expand its business, Godrej Properties acquires land outright and also enters into joint development arrangements with landowners to develop housing projects.
Gaurav Pandey, MD & CEO of Godrej Properties, said, "Strategic expansions in high-potential micro-markets are central to our growth strategy and our focus on creating enduring value for homebuyers."
Thane has become one of the most attractive locations in the Mumbai Metropolitan Region (MMR), he said, adding that the upcoming project would be the fourth in Thane.
Godrej Properties is one of the leading real estate developers in the country. Its sales bookings rose 25 per cent to ₹24,008 crore in the first nine months of this fiscal, and it is confident of meeting the target of ₹32,500 crore for the full 2025-26 fiscal.
