Earlier during the day, TV channel CNBC TV-18 reported that Jet would sign a co-development deal with Godrej Properties(GODR.BO) in two weeks time.
The companies were to develop the 2.5 acres that Jet had purchased in 2008 from the Mumbai Metropolitan Region Development Authority, the TV channel reported.
"Jet Airways has received various proposals with regard to the development of the project but nothing has been finalised as yet, Srirupa Sen, a Jet spokeswoman told Reuters via email.
"As a company policy, we do not comment on market speculation," Pirojsha Godrej, Executive Director of Godrej Properties said in an email to Reuters.
At 2:36 p.m., Godrej Properties was up 6.97 percent at 606.5 rupees, while Jet Airways was trading 0.35 percent higher at 537.25 rupees in a weak Mumbai market.
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