Modis Navnirman Secures ₹250 Crore Redevelopment Mandate in Mumbai
Modis Navnirman Limited has announced its appointment as the developer for the redevelopment of BOI Staff Sheetal Co-operative Housing Society Ltd. in Borivali (West), Mumbai. The project, situated on...
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Why is Modis Navnirman Limited in the news today?
Modis Navnirman Limited (MODIS) is in the news due to the company has secured a significant new project mandate with a substantial value, indicating business growth and positive development.
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Modis Navnirman Secures ₹250 Crore Redevelopment Mandate in Mumbai
January 1, 2026, 01:11 PM
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Modis Navnirman Limited has announced its appointment as the developer for the redevelopment of BOI Staff Sheetal Co-operative Housing Society Ltd. in Borivali (West), Mumbai. The project, situated on a 3924.91 Sq. Mtrs land parcel, has an estimated Gross Development Value (GDV) of ₹250 crore.
This mandate follows the successful completion of the 79A procedure and unanimous consent from 100% of the society members, indicating strong confidence in Modis Navnirman's capabilities. The redevelopment aims to create a modern residential development with enhanced safety, sustainability, and lifestyle amenities.
Commenting on the development, Mr. Mahek Modi, Whole Time Director and CFO, stated that the unanimous mandate is a strong validation of the trust placed in the company and reinforces their commitment to responsible redevelopment and delivering contemporary living spaces.
This project aligns with Modis Navnirman's strategic focus on transforming aging housing societies into future-ready developments, further strengthening its redevelopment portfolio in Mumbai.
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