Modis Navnirman Limited Secures Khar West Redevelopment Mandate, Adds ₹250 Crore to GDV Pipeline
Mumbai, June 2026 – Modis Navnirman Limited (MNL), a real estate developer specializing in redevelopment and urban renewal projects based in Mumbai, has been appointed as the developer for Neel Kiran Co-operative Housing Society Ltd. in Khar West. The appointment follows a selection process by the society members, who chose MNL as their preferred partner for the landmark residential society's redevelopment project.The successful mandate is expected to contribute approximately ₹250 crore in Gross Development Value (GDV) to MNL’s redevelopment portfolio. This project marks a significant milestone for the company, expanding its presence into one of Mumbai's most desirable and established residential markets.
Neel Kiran CHSL is strategically located in Khar West, an area recognized for strong residential demand and existing social infrastructure. The redevelopment aims to deliver modern residential infrastructure and enhanced amenities, creating long-term value for the current society members while contributing positively to the neighborhood.
Commenting on the appointment, Mr. Dinesh Modi, Chairman & Managing Director of Modis Navnirman Limited, stated that the company is honored by the trust placed in it by the Neel Kiran Co-operative Housing Society members. He emphasized that redevelopment requires a partnership built on transparency and shared vision. Mr. Modi added that MNL strives to create developments that enhance the quality of life for residents and unlock the full potential of urban land parcels.
The project reinforces Modis Navnirman Limited's commitment to responsible urban renewal within the Mumbai Metropolitan Region. With this assignment, the company continues to expand its footprint in the western suburbs while strengthening its presence in the premium redevelopment segment. The completion of the project remains subject to the execution of definitive documentation and receipt of necessary approvals from the society and relevant authorities.
Modis Navnirman Limited is a real estate development company focusing on urban renewal projects across the Mumbai Metropolitan Region, committed to delivering high-quality residential developments through excellence in execution and long-term stakeholder partnerships.
MODIS Stock Price Movement
Modis Navnirman Limited's shares continue to rally, climbing by 2.62% and trading at ₹344.2 as of 3:00 PM today. Traded volume for the stock stands firm at 698,990 shares during the live market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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