Godrej Properties Ltd. (GPL) has entered into a joint development agreement to develop an 18-acre land parcel in Thane, Mumbai. The project is anticipated to yield an estimated revenue potential exceeding INR 7,500 crore. Located in an established micro-market with excellent connectivity, the development will be a largely residential project, further expanding GPL’s footprint in high-potential MMR corridors.
Godrej Properties Secures Major Thane Development Opportunity
Godrej Properties Ltd. (GPL) announced on February 23, 2026, that it has finalized a joint development agreement to construct on an 18-acre land parcel situated in Thane, Mumbai. This strategic acquisition is expected to generate an estimated revenue potential of over INR 7,500 crore*.
Project Details and Location Advantage
The proposed development will primarily focus on residential units. The location benefits from existing robust connectivity and upcoming infrastructure upgrades, specifically mentioning the Thane-Wadala Metro and the Thane-Borivali twin-tube tunnel. Furthermore, catalysts like the Thane Coastal Road and the Mumbai-Ahmedabad Bullet Train (with a dedicated Thane station) are expected to improve accessibility across the Mumbai Metropolitan Region.
Thane is highlighted as a micro-market offering compelling liveability due to its mature social infrastructure, including schools, hospitals, and recreational spaces, providing strong long-term growth potential.
Leadership Commentary
Gaurav Pandey, MD & CEO of Godrej Properties, commented on the expansion, stating that strategic moves into high-potential micro-markets are central to the company’s growth strategy. He noted that this development marks their fourth project in Thane, emphasizing that the large format of the land will enable a well-planned integrated residential development aimed at serving evolving customer needs.
About Godrej Properties Limited
Godrej Properties leverages the 129-year legacy of the Godrej Industries Group, focusing on innovation, sustainability, and excellence. GPL retained its status as India’s largest developer by the value of residential sales achieved in FY 2025. The company maintains a deep commitment to sustainability, having committed that all developments would be third-party certified green buildings since 2010. Notably, GPL was ranked #1 globally amongst listed residential developers for sustainability and governance practices by the Global Real Estate Sustainability Benchmark in 2020, 2021, 2022, and 2025.
Source: BSE
