MAN Industries Monetises Navi Mumbai Land for TRs 7.20 Bn

03 Apr 2025 CW Team

In a strategic move to unlock value from its non-core assets, Merino Shelters Pvt Ltd (MSPL), a wholly owned subsidiary of MAN Industries (India), has entered into a development agreement with Paradise Green-Spaces LLP to monetize a prime land parcel in Nerul, Navi Mumbai, valued at approximately Rs 7.20 to 7.70 billion.

The transaction, finalized on March 31, 2025, grants development rights for a approximately 6-acre plot located directly opposite the D.Y. Patil Stadium, one of Navi Mumbai’s most prominent landmarks. The location also benefits from its proximity to the upcoming Navi Mumbai International Airport, expected to become operational by June 2025.

Under the agreement, MSPL will receive an upfront payment of Rs 700 million and retain 30 per cent of the developed area, amounting to approximately 4.5 lakh sq. ft. of RERA carpet area in residential and commercial space. The monetisation is projected to unfold over 5 to 6 years, with the total value of the deal estimated between Rs 7.20 and Rs 7,70 billion.

Nikhil Mansukhani, Managing Director of MAN Industries, described the deal as a critical part of the company’s broader strategy: “This agreement allows us to focus more sharply on our core line pipe business while enabling strategic expansion into high-value segments and new geographies. It marks a major step in our journey toward long-term, consistent growth and value creation for our shareholders.”

Manish Bathija, Managing Director of Paradise Group, also shared his outlook on the project: “Partnering with Merino Shelters for this landmark project is a significant milestone for us. The land’s location near D.Y. Patil Stadium and the upcoming airport presents a tremendous opportunity to create a standout urban development.

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..