Godrej Properties has added a luxury residential project with an estimated revenue potential of around ₹6,000 crore to its Mumbai portfolio after signing a development agreement for a 2.5-acre land parcel in Marine Lines, South Mumbai.
The real estate developer said the site will be developed as a luxury housing project, expanding its presence in one of Mumbai's most expensive and land-constrained residential markets.
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The ₹6,000-crore revenue potential is based on the company's current business assumptions, as per a company filing.
The addition comes as Godrej Properties continues to expand its premium and luxury housing portfolio across South and Central Mumbai. The company already has projects including Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi, which it said have received encouraging responses from buyers.
Marine Lines, located along Mumbai's coastline, has limited availability of land for new development. The neighbourhood also provides access to several of the city's business, cultural and lifestyle districts, with connectivity further supported by the Coastal Road.
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Godrej Properties is betting on these factors to support demand for high-end homes in the area, particularly among affluent buyers and end-users.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "Mumbai continues to be a key market for us, and our premium and luxury projects in the city have seen a consistently strong response. Our tailor-made developments for South Mumbai have been particularly well received, which gives us confidence in the long-term attractiveness of well-located, high-quality homes in this market. Marine Lines is one of the city's most prestigious addresses, and we are delighted to add this landmark opportunity to our portfolio."
