Mumbai: Godrej Properties said on Wednesday it has entered into an agreement with Godrej & Boyce (G&B), under which the realtor will act as a development manager for development of the group-owned land in suburban Mumbai.
Privately-held Godrej & Boyce is into various businesses including home appliances, security equipment, furniture and process equipment among others.
Godrej Properties will act as development manager and will be responsible for the conceptualisation, design, sales, and marketing of all future development on the G&B-owned Vikhroli land, it said in a statement.
For its services, Godrej Properties will receive a fee of 10% of the total revenue generated from the development, it said.
At 10.59 am, Godrej Properties was trading up 1.46% at Rs 655.25 in the Bombay Stock Exchange.