Modis Navnirman Ltd wins Rs. 250 Crore Housing Society Redevelopment Mandate in Mumbai

Modis Navnirman Limited, one of Mumbai's fastest-growing real estate developers in the redevelopment segment, today announced its appointment as the developer for the redevelopment of BOI Staff Sheetal Co-operative Housing Society Ltd., located at Ramnagar, S.V. Road, Borivali (West), Mumbai - 400 092.

The redevelopment project is spread across a land parcel of approximately 3924.91 Sq. Mtrs of plot area and is estimated to have a Gross Development Value (GDV) of approximately Rs. 250 crore. The project will focus on creating a modern, high-quality residential development that significantly enhances safety standards, sustainability features, and lifestyle amenities for residents.

The society has successfully completed the 79A procedure in full compliance with all applicable statutory requirements, marking a critical milestone in the redevelopment journey. Following this, 100% of the society members have provided their unanimous consent to appoint Modis Navnirman Limited as the developer, reflecting strong confidence in the company's execution capabilities, transparency, and redevelopment track record.

Commenting on the development, Mr. Mahek Modi, Whole Time Director and Chief Financial Officer, Modis Navnirman Limited, said: "The unanimous mandate from all members of BOI Staff' Sheetal Co-operative Housing Society is a strong validation of the trust reposed in Modis Navnirman. Redevelopment goes beyond construction-it requires empathy, clear communication, and a long-term vision for value creation. This project reinforces our commitment to responsible redevelopment and delivering contemporary living spaces that elevate urban lifestyles in Mumbai."

This appointment further strengthens Modis Navnirman Limited's expanding redevelopment portfolio across Mumbai, particularly in well-established suburban micro-markets such as Borivali West. The project aligns with the company's strategic focus on transforming aging housing societies into future-ready residential developments, while maintaining a strong emphasis on transparency, timely execution, and sustainable value creation for all stakeholders.

Shares of Modis Navnirman Limited was last trading in BSE at Rs. 338.00 as compared to the previous close of Rs. 340.55. The total number of shares traded during the day was 33 in over 9 trades.

The stock hit an intraday high of Rs. 347.30 and intraday low of 335.15. The net turnover during the day was Rs. 11275.00.

Source : Equity Bulls

Keywords

ModisNavnirman INE0L0L01012 Residential CommercialProjects HousingSociety RedevelopmentProject Mumbai