Key Transaction Details

GEE Limited has handed over possession of its land situated at Plot No. E-1, Road No. 7, Wagle Industrial Estate, Thane, to Fen-Kin Infinity LLP. This action is pursuant to the Development Agreement entered into on November 24, 2025.

The land is located in Wagle Industrial Estate, described as one of Thane's most established and strategically important industrial and commercial hubs. The location offers excellent connectivity to Mumbai and the broader Mumbai Metropolitan Region through the Eastern Express Highway, proximity to Thane Railway Station, and improving infrastructure including upcoming Metro connectivity.

Financial Projections and Impact

At an assumed realization of approximately ₹14,000 per sq. ft., the Company anticipates a potential realization of over ₹400 crore over a period of five years. This projection is subject to the progress and execution of the project and prevailing market conditions.

Use of Proceeds

The Company intends to deploy the proceeds towards:

  • Organic growth, including capital expenditure
  • Inorganic growth opportunities
  • Product portfolio expansion
  • Rewarding shareholders
  • New market entry strategy

Project Execution and Coordination

Both parties (GEE Limited and Fen-Kin Infinity LLP) will work in close coordination to ensure:

  • Smooth and timely execution of the project
  • Optimal utilization of the land
  • Due protection of their respective rights, obligations and interests as set out in the Development Agreement

Management Commentary

Mr. Umesh Agarwal, Joint Managing Director of GEE Limited, stated: "Handing over possession of our Thane land parcel is an important step forward in unlocking value from our non-core assets. The strategic location of the land in Wagle Industrial Estate further strengthens the attractiveness of this development. Based on current estimates, we see a potential realisation of over ₹400 crore over the next five years. These proceeds will be thoughtfully deployed towards organic and inorganic growth, product portfolio expansion, new market entry, and rewarding our shareholders. This milestone reflects our continued focus on efficient capital allocation and creating long-term value for all stakeholders. We look forward to the smooth progress of the project in close partnership with the developer."