Godrej Properties to Develop ₹6,000 Crore Luxury Project in Marine Lines.

Strategic partnership unlocks premium Mumbai opportunity while MICL recovers ₹300+ crore investment.

Godrej Properties has entered into a development agreement for a 2.5-acre luxury residential project in Marine Lines, South Mumbai, with an estimated revenue potential of around ₹6,000 crore. The development rights, previously jointly held by Man Infraconstruction (MICL) and Shreepati Group, have been transferred to Godrej Properties. MICL, which earlier served as the project’s development manager, will continue to participate through an agreed revenue-sharing arrangement with Godrej Properties. In addition, MICL will recover more than ₹300 crore of its existing investment in the project. According to MICL Managing Director Manan Shah, the early realisation of cash flows will provide the company with greater financial flexibility to pursue new development opportunities in Mumbai. Godrej Properties MD & CEO Gaurav Pandey said Mumbai remains a key market for the company, with its premium and luxury projects in South and Central Mumbai witnessing strong demand. The upcoming project will be jointly branded as part of the collaboration.