Gee Limited has informed the exchange regarding the execution of Definitive Agreement (''Development Agreement'') dated 24th November, 2025 for Real Estate Development of the Company Land ....
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GEE Limited has signed a Development Agreement with Fen-Kin Infinity LLP to develop its 13,391 sq. mtr. land parcel at Wagle Industrial Estate, Thane into a commercial project. In return for granting development rights, the company will receive approximately 2,90,000 sq. ft. of RERA-registered constructed commercial area over the next 6 years, which it plans to sell in a phased manner after the project launches. The land currently contributes about Rs. 46 crore in FY25 revenue and Rs. 26 crore in H1FY26 from leasehold operations, while machinery on site will be shifted to the company's Kalyan-Bhiwandi plant without affecting revenues. The developer is not part of the promoter group and the transaction is not a related party deal.
This is a meaningful asset monetization step — GEE trades near-term lease income from the Thane land for future built-up commercial inventory. Shareholder value depends on how well these units are eventually sold, but the property is in a developed industrial pocket of Thane, which may support decent realization over the long horizon.