Sumitomo buys 2-acre Bombay Dyeing land in Mumbai for Rs 4.4 billion

13 Sep 2024 CW Team

Japan's Sumitomo Corporation Group has acquired a prime 2-acre land parcel in Mumbai's Worli area from Bombay Dyeing & Manufacturing Company for Rs 4.4 billion. Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, completed the purchase along with the associated floor space index (FSI) from Bombay Realty, the real estate arm of Bombay Dyeing.

This deal is part of a larger agreement signed last year, where Sumitomo agreed to acquire a total of 22 acres in Worli for Rs 52 billion. The entire transaction is being executed in two phases, with the first phase valued at Rs 46.75 billion and the remaining Rs 5.25 billion to be finalised upon fulfilling certain conditions by Bombay Dyeing.

Sumitomo has paid Rs 264.5 million in stamp duty for registering the deal, which was finalized on August 13, 2024. According to Rahul Anand, CEO, Bombay Realty, this transaction marks the conclusion of the land sale commitment, following the earlier development and sale of a 3.35 lakh sq. ft. commercial building.

Sumitomo has been expanding its presence in India’s real estate market, driven by rising demand for premium office and residential spaces. Last year, the company also secured a nearly 3-acre land parcel in Mumbai’s Bandra-Kurla Complex through an 80-year lease with the Mumbai Metropolitan Region Development Authority for Rs 20.67 billion.(ET)

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..