PVR Inox Leases 43,500 Sq Ft at Sky City Mall, Borivali

26 Aug 2025 CW Team

PVR Inox Ltd has leased 43,534 sq ft of retail space in Sky City Mall, Borivali, from Oberoi Realty for a 15-year term, according to property registration documents accessed by CRE Matrix.

The agreement, registered on 9 July 2025, stipulates a monthly rent of Rs 9.14 million or 20 per cent revenue share biannually, whichever is higher. PVR Inox has paid a security deposit of Rs 109.7 million, with a 15 per cent top-up every 36 months. The transaction carries a five-year lock-in period and a 15 per cent rent escalation clause every three years. Although the company received fit-out access in March 2024, rent commencement is effective from 30 July 2025.

The announcement coincided with the launch of a new 10-screen megaplex in Mumbai on 22 August. Spread across 43,500 sq ft, the megaplex has a total seating capacity of 1,372, with foyers, lounges, and uniquely designed auditoriums. Managing Director Ajay Bijli described the launch as a “design-forward destination where technology, luxury, and youthful energy converge to create immersive storytelling spaces.”

Sky City Mall, Oberoi Realty’s second mall in Mumbai after Oberoi Mall in Goregaon East, opened in March 2025. The Borivali development forms part of the 25-acre Sky City mixed-use project by Incline Realty Pvt Ltd, with a gross leasable area of 1.21 million sq ft.

PVR Inox’s lease follows other big-ticket transactions in the area. In May 2025, Apple India leased 12,616 sq ft of retail space in Borivali for Rs 1.74 million monthly rent, with a revenue-sharing clause and a lock-in period of nearly 11 years.

The deals highlight Borivali’s rising prominence as a retail and entertainment hub, strengthening Oberoi Realty’s position in Mumbai’s commercial real estate market.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..