To Consider and ratify the Development Agreement entered on 24th November, 2025 for the real estate development of the Company''s leasehold land situated at Wagle Estate, Thane into commercial ....
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GEE Limited has called an Extraordinary General Meeting (EGM) on January 5, 2026, to ratify a Development Agreement signed on November 24, 2025, with Fen-kin Infinity LLP (as developer) and Avioncrest Construction LLP. The agreement covers the development of the company's 13,391 square meter leasehold land at Wagle Industrial Estate, Thane, into a modern commercial project. Under the deal, GEE Limited will receive approximately 2,90,000 sq. ft. of RERA-registered constructed area as its share. The company will relocate its existing manufacturing facility from the Thane site to its another plant at Bhiwandi-Kalyan as part of this transition. The Board first discussed the proposal on August 14, 2025, and approved the agreement on December 4, 2025.
This is a value-unlocking move for shareholders, monetizing a leasehold land parcel in Thane through a commercial real estate project. The 2.9 lakh sq. ft. of constructed area entitlement could generate significant future revenue, though near-term costs and operational disruption from relocating the manufacturing facility should be expected.