Ramky Infra Secures ₹3,000 Cr Pharma Park Project in Raigad

Introduction

Ramky Infrastructure Limited announced a major development on Friday, March 13, 2026. Its wholly-owned subsidiary, Maha Integrated Life Sciences City Limited (MILeS City), has signed a concession agreement with the Maharashtra Industrial Development Corporation (MIDC). The agreement is for the development of a high-tech pharmaceutical park in the Raigad district of Maharashtra, with an estimated project cost of ₹3,000 crore. This long-term project, structured as a Public-Private Partnership (PPP), aims to establish a world-class manufacturing ecosystem for the life sciences sector.

Details of the Concession Agreement

The project will be executed under the Design, Build, Finance, Operate, and Transfer (DBFOT) model. The total concession period spans 95 years, which is divided into a five-year construction phase and a subsequent 90-year operational period. Under the terms of the agreement, MILeS City will be responsible for the complete development, operation, maintenance, and management of the pharmaceutical park for the entire duration. This long-term framework provides a stable foundation for sustained growth and revenue generation.

A Vision for an Integrated Life Sciences Hub

The proposed pharmaceutical park will be developed on a vast expanse of approximately 1,000 hectares within the Dighi Port Industrial Area. This area covers parts of the Mangaon and Roha talukas in the Raigad district. The vision is to create a large-scale, integrated development that serves as a comprehensive hub for pharmaceutical, biotechnology, and life sciences companies. The master plan includes dedicated industrial zones, commercial areas, common infrastructure, advanced utilities, internal road networks, and designated open spaces.

Fostering Innovation and Sustainability

A key objective of the project is to foster innovation within the sector. The park will feature innovation-led research and development centers, incubation hubs, and technology transfer platforms. These facilities are designed to encourage collaboration, build capabilities, and drive sectoral advancements. Furthermore, the project emphasizes environmentally responsible infrastructure. The development will adhere to high standards of environmental safety and regulatory compliance, ensuring sustainable industrial operations for all occupants.

Financial Structure and Revenue Streams

The ₹3,000 crore project cost is supported by a multi-faceted revenue model designed for long-term financial viability. MILeS City will generate revenue from several streams, including land lease premiums and rentals from companies setting up their facilities in the park. Additional income will be derived from development charges, maintenance fees for common infrastructure, and operational charges for providing essential utilities and shared services to the businesses within the park.

Impact on Ramky Infrastructure's Financials

This significant project win has a direct positive impact on Ramky Infrastructure's business outlook. The company confirmed that the construction component, to be executed over the next five years, will be added to its order book. This addition brings the company's total order book to approximately ₹13,500 crore. The news was received positively by the market, with shares of Ramky Infrastructure Ltd ending the day at ₹480.25 on the BSE, a gain of ₹22.20 or 4.85%.

Project Summary Table

Boosting Regional Economic Development

The pharmaceutical park is poised to be a significant catalyst for economic growth in the Raigad region and across Maharashtra. It is expected to attract substantial domestic and international investments into the state's pharmaceutical and life sciences sectors. The project is also projected to create a large number of direct and indirect employment opportunities, which will, in turn, stimulate growth in ancillary industries and support local businesses in the surrounding areas.

Management's Perspective

Sunil S Nair, CEO of Ramky Infrastructure Limited, commented on the strategic importance of the agreement. He stated, "This agreement marks a significant milestone not only for industrial development but for the wider communities and businesses that stand to benefit from it." He added that by creating a large-scale integrated life sciences ecosystem, the project will support employment generation, strengthen regional infrastructure, encourage innovation, and attract long-term investment into Maharashtra. The goal is to provide a globally competitive manufacturing environment for pharmaceutical and biotechnology companies.

Conclusion and Forward Outlook

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