MMRC Considers RBI’s Request for Land at Nariman Point

22 Jan 2025 CW Team

The Mumbai Metro Rail Corporation (MMRC), responsible for constructing the Colaba-Aarey Colony Metro-3 underground corridor, announced on January 20 that it had received a formal request from the Reserve Bank of India (RBI) for land at Nariman Point in Mumbai, intended for its offices. The MMRC board has approved the consideration of this proposal.

Previously, MMRC had planned to lease a 4.2-acre parcel of land in Nariman Point for property development, an area that was historically used by various political parties for office space.

“Following RBI’s request for this land parcel, the MMRC Board has agreed to consider the proposal accordingly. The tender for the property development has thus been cancelled,” stated MMRC in an official statement.

The Request for Proposal (RFP) for the property development, issued on October 3, 2024, was advertised widely through national and international publications. MMRC also held outreach roadshows in Mumbai, Bengaluru, and Delhi in October and November.

The MMRC had initially set the reserve price for the plot at approximately ?5,173 crore. In October 2024, global bids were invited to lease the land for long-term development.

The plot offered by MMRC for sale has significant development potential, with an area of 1.6 million square feet, though more than 1.13 million square feet would need to be allocated for rehabilitation purposes as per state requirements.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..