Godrej Fund Management sells Mumbai office space

28 Sep 2023 CW Team

Godrej Fund Management, the real estate private equity arm of the Godrej Group, is reportedly on the verge of selling three floors of office space in the Godrej BKC commercial project located in Mumbai's Bandra-Kurla Complex to Max Life Insurance for approximately Rs 9 billion. Sources familiar with the matter indicate that the deal for nearly 200,000 sq ft of office space is in the final stages, with a term sheet signed and due diligence underway.

Currently, these floors are leased to entities such as Carlyle Group, Nayara Energy, and Investcorp at an average rental rate of over Rs330 per sq ft.

"The fund had initiated the asset sale process earlier this year, and it is expected to be finalised in the coming months," stated one of the individuals mentioned earlier.

Godrej BKC, spanning 1.3 million sq ft, was developed through a collaboration between Godrej Properties and Jet Airways. Jet Airways had acquired the 2.5-acre land parcel from the Mumbai Metropolitan Region Development Authority (MMRDA) for nearly Rs4 billion in a public auction back in 2006.

Subsequently, the developer sold a portion of the commercial tower to pharmaceutical giant Abbott. At present, the office building is strata-owned by Abbott, Brookfield Group, ICICI Pru Life, and DeDecor Group.

Notably, Godrej Fund Management has made over 15 investments across its four primary property markets in India through five investment platforms, managing a total of more than 15 million sq ft of space. The fund's partners include global institutional investors such as Allianz Real Estate and Dutch pension fund manager APG Asset Management.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..