India, Jan. 14 -- The company did not mention the name of the landowner with whom it has signed the joint development agreement.

Bhugaon is an emerging residential destination in Pune. This land parcel is surrounded by established premium markets like Bavdhan and Kothrud and is adjacent to the Mumbai-Pune Expressway as well as Shivaji Nagar railway station, the company said.

The project is set to benefit from being in close proximity to large employment hubs as well as the access to advanced social infrastructure comprising schools, hospitals, shopping malls and entertainment hubs making this a very unique and attractive proposition, the company said in a regulatory filing.

"This transaction aligns with our strategy to systematically s...