GEE Limited Share Price Surges Over 6% on Signing Development Deal for Thane Land

GEE Ltd has signed a development agreement for its leasehold land located in Wagle Industrial Estate, Thane. As per the exchange filings, the land measures 13,391 sq. metres and will no longer be used for manufacturing once construction begins. The plan is to turn the area into a commercial project instead of continuing industrial activity at the site. 

Share of Constructed Space 

Under the agreement, GEE will receive around 2,90,000 sq. ft of RERA-registered constructed space. This space will be the company’s share in return for transferring development rights attached to the property. The agreement has been signed between GEE Ltd and Fen-kin Infinity LLP, which has been named as the landowner in the filing. 

Estimated Project Value 

The company has stated that the redevelopment is expected to bring in a potential value of over ₹400 crore over the course of the project. The value is linked to the share of built-up space that GEE will receive, which can be utilised or monetised once commercial work is completed. 

Manufacturing Unit to Move Out of Thane 

The land currently houses one of GEE’s manufacturing units. With the redevelopment planned, the company has said this unit will be shifted to Bhiwandi-Kalyan, where GEE already runs another facility. Moving the unit allows the Thane site to be cleared for the commercial project outlined in the agreement. 

Details Mentioned in the Filing 

The filing notes that the agreement covers the transfer of development rights and specifies the area GEE will receive in return. It also links the project to the relocation of the current industrial facility, stating that the move makes way for the construction to proceed. No additional terms or timelines were provided in the document. 

GEE Ltd Share Price Performance 

As of November 25, 2025, 12:15 pm, GEE Ltd share price was trading at ₹90.01, a 6.07% increase from the previous closing price. 

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Conclusion 

With the agreement in place, the Thane land will shift from industrial use to commercial development. The company has not shared analyst commentary or further project updates. 

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