Kansai Nerolac Paints acquires office space in Mumbai for Rs 85 cr

07 Feb 2022 CW Team

According to sources, Kansai Nerolac Paints has acquired office space in Mumbai worth Rs 85 crore for the development of the Indian headquarters of the company in Lower Parel.

The company has bought an entire floor of office space on the 28th floor of the commercial tower spread across 35,000 sq ft in Marathon Group's commercial project, Marathon Futurex on Delisle Road.

Sources said that the project's third phase of development had received an occupation certificate from the civic body.

Marathon Futurex has housed the headquarters of Essel Group for its media and entertainment businesses, Zee Entertainment Enterprises, an Indian subsidiary of L'Oreal.

This project is the address of Tata Group's Tata Strategic Management, HDFC, Consulate General of Israel, Thomas Cook and Diageo.

Marathon Realty is developing the 1.4 million sq ft office building in three phases, from which two development phases are spread across an 8 lakh sq ft area. The third developmental phase will take the 38th floor and make it the tallest commercial project in India.

It is one of the largest front-office transactions. Essel Group has acquired 2.2 lakh sq ft of commercial space across seven floors worth Rs 400 crore.

Earlier, IDBI Federal Life Insurance Company Limited bought commercial space worth more than Rs 111 crore at Marathon Futurex. Hindustan Colas had also bought commercial space in the same complex worth Rs 120 crore.

The commercial sector in Mumbai is witnessing a robust activity after the Covid-19 pandemic. As per JLL India, Mumbai's office market in India's financial capital recorded leasing of over 3.7 million sq ft in 2021, from which 3 million sq ft was transacted during the second half of 2021, witnessing a strong recovery of 8 lakh sq ft absorption in the first half.

Image Source

Also read: Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..