Ramky Infra to Build ₹3,000 Crore Pharma Park in Raigad

Introduction

Ramky Infrastructure Limited announced on Friday, March 13, 2026, that its wholly-owned subsidiary, Maha Integrated Life Sciences City Limited (MILeS), has signed a significant concession agreement with the Maharashtra Industrial Development Corporation (MIDC). The agreement facilitates the development of a high-tech pharmaceutical park in Maharashtra's Raigad district, with a total project value estimated at ₹3,000 crore. This long-term project aims to establish a world-class integrated ecosystem for the life sciences and pharmaceutical industries, reinforcing Maharashtra's position as a key hub for the sector.

Project Agreement Details

The agreement outlines a Public-Private Partnership (PPP) for the development, operation, maintenance, and management of the pharmaceutical park. The project will be implemented under the Design, Build, Finance, Operate, and Transfer (DBFOT) model. The concession period is set for 95 years, which includes a construction phase of five years, followed by a 90-year operational term. This long-term structure provides a stable framework for sustained development and revenue generation for Ramky Infrastructure.

Scope and Vision of the Park

Spanning approximately 1,000 hectares in the Dighi Port Industrial Area, which covers parts of the Mangaon and Roha taluks, the park is designed to be a comprehensive hub for pharmaceutical and biotechnology companies. The development plan includes dedicated industrial zones for manufacturing, commercial areas, and shared amenities. It will also feature advanced infrastructure such as R&D centers, incubation hubs, and technology transfer platforms to foster innovation and collaboration within the life sciences sector. The project emphasizes environmental responsibility and adherence to regulatory compliance.

Financial Structure and Revenue Model

The project, valued at ₹3,000 crore, incorporates a multi-faceted revenue model for MILeS City. Revenue streams will be generated from land lease premiums and rentals from companies establishing their facilities within the park. Additional income will come from development charges, maintenance fees for common infrastructure, and operational charges for providing essential utilities and shared services. This diversified revenue structure is designed to ensure the project's financial viability over its 95-year concession period.

Impact on Ramky Infrastructure's Order Book

The execution of this agreement significantly strengthens Ramky Infrastructure's financial standing and project pipeline. The company confirmed that this project will increase its total order book to approximately ₹13,500 crore. This development solidifies Ramky's position in the infrastructure sector, particularly in executing large-scale, integrated industrial projects. It also demonstrates the company's capability to develop specialized ecosystems for key industries like life sciences.

Key Project Data Summary

Economic and Regional Development

The pharmaceutical park is expected to be a major catalyst for economic growth in the Raigad region and across Maharashtra. The project is projected to attract significant investment into the state's pharmaceutical and life sciences sectors. Furthermore, it is anticipated to create substantial direct and indirect employment opportunities, stimulating growth in ancillary industries and local businesses. The development of advanced industrial infrastructure will enhance the region's overall economic landscape.

Market Reaction and Stock Performance

Investors responded positively to the announcement. On the day of the disclosure, shares of Ramky Infrastructure Ltd ended trading on the BSE at ₹480.25, marking an increase of ₹22.20, or 4.85%. The stock's performance reflects market confidence in the company's ability to secure and execute high-value, long-term infrastructure projects.

Management's Perspective

Sunil S Nair, CEO of Ramky Infrastructure Ltd, commented on the strategic importance of the project. He stated that the agreement is a significant milestone for industrial development and will benefit the wider community. Nair highlighted the project's potential to generate employment, strengthen regional infrastructure, and encourage innovation. He added that the park is designed to create a globally competitive manufacturing environment, attracting long-term investment into Maharashtra.

Conclusion

The concession agreement between Ramky Infrastructure's subsidiary and MIDC marks the beginning of a transformative project for Maharashtra's pharmaceutical sector. The ₹3,000 crore, 95-year project is set to create a vital life sciences hub, driving economic growth and innovation. As the project moves into its five-year construction phase, it will be a key indicator of Ramky Infrastructure's long-term growth trajectory and its role in developing critical industrial infrastructure in India.