Japan’s Sumitomo acquires Bombay Dyeing’s land for Rs 4.4 Bn

11 Sep 2024 CW Team

Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, has acquired the land parcel along with its associated floor space index (FSI) from Bombay Realty, the property development subsidiary of Bombay Dyeing & Manufacturing Company.

In the largest land transaction in India last year, the Japanese company had entered into an agreement with BDMC to acquire a total 22 acres in Worli for Rs 52 billion and this deal concluded now is part of the same agreement.

The entire transaction between Sumitomo and Bombay Realty was expected to be completed in two phases including the first tranche of Rs 46.75 billion. The balance Rs 5.25 billion was to be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase.

The company has paid stamp duty of Rs 264.5 million for the registration of the deal that took place on August 13, 2024, shows the documents accessed through real estate data analytics firm Propstack. “With this, the deal for the entire land as committed by the company has been concluded. We have developed and sold a commercial building of about 3.35 lakh sq ft earlier and sold the remaining landholdings in Worli to Sumitomo,” Rahul Anand, CEO, Bombay Realty, told ET.

Last year, Sumitomo Corporation also concluded a transaction with the Mumbai Metropolitan Region Development Authority (MMRDA) to pick up a nearly 3-acre land parcel, through a long-term lease of 80 years, in Mumbai’s business district Bandra-Kurla Complex (BKC) for over Rs 20.67 billion.

Sumitomo Realty & Development Company, one of Japan’s leading real estate developers, has gradually increased its exposure to the Indian real estate market in the last few years. The company has entered India through strategic partnerships and investments in the backdrop of rising demand for premium office spaces and residential developments.

Japan’s Sumitomo Corporation Group has acquired the Wadia Group entity Bombay Dyeing & Manufacturing Company’s prime land parcel spread over nearly 2 acres in Mumbai’s Worli locality for Rs 440 crore. Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, has acquired the land parcel along with its associated floor space index (FSI) from Bombay Realty, the property development subsidiary of Bombay Dyeing & Manufacturing Company. In the largest land transaction in India last year, the Japanese company had entered into an agreement with BDMC to acquire a total 22 acres in Worli for Rs 52 billion and this deal concluded now is part of the same agreement. The entire transaction between Sumitomo and Bombay Realty was expected to be completed in two phases including the first tranche of Rs 46.75 billion. The balance Rs 5.25 billion was to be received upon completion of certain conditions by BDMC and execution and consummation of the definitive agreements for the second phase. The company has paid stamp duty of Rs 264.5 million for the registration of the deal that took place on August 13, 2024, shows the documents accessed through real estate data analytics firm Propstack. “With this, the deal for the entire land as committed by the company has been concluded. We have developed and sold a commercial building of about 3.35 lakh sq ft earlier and sold the remaining landholdings in Worli to Sumitomo,” Rahul Anand, CEO, Bombay Realty, told ET. Last year, Sumitomo Corporation also concluded a transaction with the Mumbai Metropolitan Region Development Authority (MMRDA) to pick up a nearly 3-acre land parcel, through a long-term lease of 80 years, in Mumbai’s business district Bandra-Kurla Complex (BKC) for over Rs 20.67 billion. Sumitomo Realty & Development Company, one of Japan’s leading real estate developers, has gradually increased its exposure to the Indian real estate market in the last few years. The company has entered India through strategic partnerships and investments in the backdrop of rising demand for premium office spaces and residential developments.

Infrastructure Transport

03 Apr 2026

Railways Sets New Records In Passenger And Freight

Indian Railways reported record performance in 2025–26, registering gains in both passenger operations and freight. Passenger carriage rose to 7,410 mn in the year, an increase of 3.54 per cent over 7,160 mn in 2024–25, while passenger revenue increased to Rs 800 bn, up 5.96 per cent from Rs 755 bn. These outcomes reflect improvements in operational efficiency and growing reliance on rail transport for mobility and commerce. Freight loading reached 1,670 mn t in 2025–26, a rise of 3.25 per cent year on year, driven by higher bulk movements and improved logistics. The number of wagons han..

Infrastructure Transport

03 Apr 2026

NHAI Reports Robust National Highway Growth in FY 2025-26

The National Highways Authority of India reported continued progress in national highway development during the financial year 2025-26, completing 5,313 km of national highways, which was about 15 per cent higher than the target of 4,640 km for the year. The agency said the construction output reflected sustained project execution across regions and phases. The achievement follows policy priorities to expand connectivity and reduce travel times. The work included upgrades and new corridors intended to improve safety and reduce congestion on key routes. Capital expenditure by the authority for ..

Infrastructure Urban

03 Apr 2026

India SDG Dashboard Launched by Ministry of Statistics

The Ministry of Statistics and Programme Implementation (MoSPI) has developed the India Sustainable Development Goals Dashboard in partnership with the United Nations Resident Coordinator Office (UNRCO). The dashboard serves as a centralised data platform for monitoring SDG indicators aligned with the National Indicator Framework (NIF). It provides consolidated access to indicator data to support evidence based planning and monitoring. The platform aims to streamline indicator tracking and support evidence based decision making across levels of government. MoSPI regularly releases a range of s..