Godrej Properties to jointly develop 18-acre Thane land parcel with revenue potential of ₹7,500 crore
Published on 23/02/2026 08:08 AM
Godrej Properties to jointly develop 18-acre Thane land parcel with revenue potential of ₹7,500 croreEarlier this month, Godrej Properties CEO Gaurav Pandey told CNBC-TV18 that the company expects demand in its key micro-markets to remain resilient and largely end-user driven, even as speculative activity cools in parts of NCR.By Shloka Badkar February 23, 2026, 8:08:14 AM IST (Published)2 Min ReadShares of Godrej Properties Ltd. are in focus on Monday, February 23, after the company said it has entered a joint development agreement to develop an 18-acre land parcel in Thane, Mumbai with a revenue potential of more than ₹7,500 crore.
It said the land parcel is located in an established micro-market of Thane, with connectivity to both existing and upcoming infrastructure, including the Thane-Wadala Metro and the Thane-Borivali twin-tube tunnel.
The company said 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, benefitting surrounding catchments, enhancing the attractiveness of the micro-market, and improving access to major residential, commercial and employment hubs across the Mumbai Metropolitan Region (MMR).
"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 told CNBC-TV18 that the company expects demand in its key micro-markets to remain resilient and largely end-user driven, even as speculative activity cools in parts of NCR.
Pandey said, going forward, the company's strategy will continue to focus on steady launch execution, sustaining booking momentum and disciplined capital deployment, with the management confident that consistent operating performance will support growth despite near-term market volatility.
Shares of Godrej Properties ended the previous session 0.6% lower at ₹1,813.1 apiece. The stock has risen 17.6% in the past month.
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