Godrej Properties has expanded its Mumbai portfolio with a luxury residential project with an estimated revenue potential of Rs 6,000 crore after signing a development agreement for a 2.5-acre land parcel in Marine Lines, South Mumbai.

The company has acquired development rights to the project, jointly held by Mumbai-based Man Infraconstruction (MICL) and Shreepati Group. MICL was previously the development manager for the project, the real estate major said in an exchange filing on Monday. Although the company has not disclosed the land value, industry experts estimate it at over Rs 1,000 crore, according to a report by the FE.

Gaurav Pandey, managing director and CEO of Godrej Properties, said: “Mumbai continues to be a key market for us, and our premium and luxury projects in the city have seen a consistently strong response. Marine Lines is one of the city’s most prestigious addresses, and we are delighted to add this landmark opportunity to our portfolio.”

Marine Lines and nearby upscale localities such as Walkeshwar and Malabar Hill, along Mumbai’s iconic coastline, command property prices upwards of Rs 80,000 per square foot, with leading developers such as Lodha and Runwal Realty having projects in these areas.

The latest project will add to the developer’s luxury residential portfolio in the city, where it is already developing Godrej Trilogy in Worli and Godrej Avenue Eleven in Mahalaxmi.

The success of its luxury launches will be crucial as the company targets bookings of Rs 39,000 crore in FY27, up from Rs 34,171 crore in FY26.

The developer focuses on premium and luxury residential projects across key markets, including the National Capital Region (NCR), Mumbai Metropolitan Region, Bengaluru and Pune.