Viceroy to Invest Rs 16 Bn in Commercial Realty
Real Estate

Viceroy to Invest Rs 16 Bn in Commercial Realty

Mumbai-based Viceroy Properties is making its foray into commercial real estate with a Rs 16 billion investment planned over the next five years, founder and CEO Cyrus Mody told Business Standard. The move marks a strategic shift for the company, which has so far focused exclusively on luxury residential developments.

Viceroy’s commercial expansion will begin with the development of 1.2 million square feet of office and retail space in Mumbai by the end of 2025. “We’re planning a few built-to-lease commercial offices. We see significant demand in this sector,” Mody said, pointing to rising momentum in the commercial leasing market.

India’s commercial real estate sector is witnessing strong demand recovery post-pandemic. According to a Colliers-FICCI report, gross office leasing could reach 65–70 million square feet in 2025, led by global capability centres, IT-ITeS, BFSI, and flex spaces across major metros. JLL India forecasts nearly 9 million square feet of new retail space across key cities, including Mumbai and Kolkata, in 2025.

Viceroy, which has developed luxury residences in Mumbai’s Kandivali area—priced between Rs 35 million and Rs 250 million—has about 1.2 million square feet under execution and a pipeline of 4 million square feet valued at over Rs 100 billion. Upcoming residential projects include a 2-acre coastal road luxury property in Versova and high-end developments in Bandra.

For its commercial venture, the firm plans to invest Rs 1 billion in equity and raise Rs 2–3 billion in debt, with the remainder financed through sales. While the company remains focused on the Mumbai Metropolitan Region (MMR), especially Bandra, Goregaon, and Borivli, it is open to exploring opportunities in other cities.


Mumbai-based Viceroy Properties is making its foray into commercial real estate with a Rs 16 billion investment planned over the next five years, founder and CEO Cyrus Mody told Business Standard. The move marks a strategic shift for the company, which has so far focused exclusively on luxury residential developments.Viceroy’s commercial expansion will begin with the development of 1.2 million square feet of office and retail space in Mumbai by the end of 2025. “We’re planning a few built-to-lease commercial offices. We see significant demand in this sector,” Mody said, pointing to rising momentum in the commercial leasing market.India’s commercial real estate sector is witnessing strong demand recovery post-pandemic. According to a Colliers-FICCI report, gross office leasing could reach 65–70 million square feet in 2025, led by global capability centres, IT-ITeS, BFSI, and flex spaces across major metros. JLL India forecasts nearly 9 million square feet of new retail space across key cities, including Mumbai and Kolkata, in 2025.Viceroy, which has developed luxury residences in Mumbai’s Kandivali area—priced between Rs 35 million and Rs 250 million—has about 1.2 million square feet under execution and a pipeline of 4 million square feet valued at over Rs 100 billion. Upcoming residential projects include a 2-acre coastal road luxury property in Versova and high-end developments in Bandra.For its commercial venture, the firm plans to invest Rs 1 billion in equity and raise Rs 2–3 billion in debt, with the remainder financed through sales. While the company remains focused on the Mumbai Metropolitan Region (MMR), especially Bandra, Goregaon, and Borivli, it is open to exploring opportunities in other cities.

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?