GEE Ltd signs development agreement for its land

GEE Limited has signed a Development Agreement on 24 November 2025 for the real estate development of its land situated at Plot No. E-1, Road No. 7, Wagle Industrial Estate, Thane - 400 604, Maharashtra, India.

The agreement has been entered into among GEE Limited (land owner) and Fen-Kin Infinity LLP(Developer).

The development rights granted pertains to our land parcel admeasuring 13,391 sq. mtrs., which is proposed to be developed into a Commercial project. Under this arrangement, the Company is entitled to approximately 2,90,000 sq. ft. of RERA-registered constructed area as its share.

Within 6 years from the date of execution of the Development Agreement, the Company expects to receive from Fen-Kin Infinity LLP commercial units on an area sharing basis of approximately 2,90,000 square feet RERA carpet area along with mutually agreed amenities with revenue potential of upwards of Rs 400 crore during the lifecycle of the project. The Company expects to sale / dispose of commercial units that it receives in a staggered manner post launch of the project.

Commenting on the update, Mr. Umesh Agarwal, Managing Director, GEE Limited, stated: "This development unlocks value from our land asset in Thane. The planned commercial development is expected to generate revenue exceeding Rs. 400 crores over its lifecycle, meaningfully enhancing long-term value creation for our stakeholders. The manufacturing facility at the existing location will be shifted to Bhiwandi-Kalyan, where the company's other manufacturing setup is also present."

Shares of GEE LTD. was last trading in BSE at Rs. 84.86 as compared to the previous close of Rs. 77.15. The total number of shares traded during the day was 73028 in over 162 trades.

The stock hit an intraday high of Rs. 84.86 and intraday low of 80.00. The net turnover during the day was Rs. 6041174.00.

Source : Equity Bulls

Keywords

GEE INE064H01021 DevelopmentAgreement Land WagleIndustrialEstate Thane FenKinInfinityLLP