Viceroy to Invest Rs 16 Bn in Commercial Realty

06 May 2025 CW Team

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.

Products

04 Dec 2025

Kuche7 Launches Ruby Vanity for Sculpted, High-Performance Bathrooms

Kuche7, India’s leading maker of premium stainless-steel kitchens, has unveiled the Ruby Vanity, a bathroom system engineered for long-term performance with a warm, sculpted aesthetic. Built on a 304-grade stainless-steel framework, the vanity offers corrosion resistance, structural strength and high durability suited to humid environments.Precision metal-forming enables the seamless curved façade, finished in a matte beige PU coat and paired with a marble countertop for depth and texture. Stainless-steel internal carcasses ensure efficient, moisture-resistant storage for everyday use. The ..

Knauf India Doubles Capacity with New Metal Line at Khushkhera Plant

Knauf India, the world’s leading drywall and ceiling solutions company, has inaugurated a new Metal Line at its Khushkhera plant, doubling the facility’s overall production capacity. The expansion strengthens Knauf’s local manufacturing footprint and supports the growing domestic demand for advanced building materials.The launch was held during Knauf’s Dealer Engagement Day, which brought together dealers, partners and team members from across the country for a full-day programme combining technical demonstrations and engagement activities. The event began with a guided plant tour show..

Valueline Launches Tiberio by Ceramica Cielo in India

Valueline, a premium home solutions brand established in 2002, has announced the launch of Tiberio by Ceramica Cielo, an Italian bathroom collection that pairs traditional ceramic craftsmanship with contemporary design. The series is positioned to bring refined elegance and architectural depth to modern interiors.Designed by Andrea Parisio and Giuseppe Pezzano, Tiberio emphasises balanced proportions and a harmonious integration of ceramic and wood. The collection offers both modular and freestanding formats, enabling application across varied settings including high-end residences, boutique h..