Modi's Navnirman Limited has secured a significant redevelopment mandate worth ₹250.00 crore for a housing society project in Mumbai. The company announced its appointment as the developer for BOI Staff Sheetal Co-operative Housing Society Ltd., located at Ramnagar, S.V. Road, Borivali West, Mumbai. The small-cap construction company currently commands a market capitalization of ₹673.55 crore.
The redevelopment project encompasses a plot area of 3924.91 square meters with a gross development value of ₹250.00 crore. The society has achieved 100% unanimous approval from all members and successfully completed the 79A procedure in full compliance with all applicable statutory requirements. The project will focus on creating modern, high-quality residential development that significantly enhances safety standards, sustainability features, and lifestyle amenities for residents.
Mr. Mahek Modi, Whole Time Director and Chief Financial Officer of Modi's Navnirman Limited, emphasized the significance of receiving unanimous consent from all society members. According to Modi, the mandate reflects strong confidence in the company's execution capabilities, transparency, and redevelopment track record. He stated that redevelopment extends beyond construction, requiring empathy, clear communication, and a long-term vision for value creation.
This appointment strengthens Modi's 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. The company maintains emphasis on transparency in operations, timely project execution, sustainable value creation for all stakeholders, and responsible innovation in redevelopment.
Modi's Navnirman Limited positions itself among Mumbai's fastest-growing real estate developers in the redevelopment segment. Founded by Mr. Dinesh C. Modi in 2010, the company has established leadership within a short span by delivering large projects. The team continues to set new benchmarks on the journey to become one of the largest real estate developers in India.
