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 Transport

Indian Railways completes launch of world’s tallest railway pier bridge

In a major engineering milestone, Indian Railways has successfully completed the launching for all eight spans of the world’s tallest railway pier bridge on the Jiribam–Imphal railway line. The development was announced by Union Railway Minister Ashwini Vaishnaw via a post on social media platform X. The bridge, located in the Khongsang–Noney section of the Jiribam–Imphal Capital Connectivity Project, features a total of eight spans—comprising 1 x 71.5 metres, 5 x 106 metres, another 71.5 m span, and a 30 m span. The tallest pier of the bridge rises to a height of 141 m, making ..

Next Story
Infrastructure Urban

Enlight Metals brings AI efficiency to India's steel trade

Pune-based metal aggregator Enlight Metals is transforming the traditionally unorganised steel trading sector by embedding artificial intelligence (AI) across its operations. Faced with challenges like unpredictable demand, stockouts, and slow customer responses, the company has adopted AI-driven tools to streamline functions from inventory to customer engagement. By integrating AI with its CRM and ERP platforms, Enlight Metals has achieved a 40 per cent improvement in customer response time and a 25 per cent reduction in stockouts. The system prioritises customer queries from WhatsApp an..

Next Story
Infrastructure Urban

NMDC Drives Rural Transformation Through Education Initiatives

NMDC, India’s largest iron ore producer and a Navratna PSU, is quietly transforming rural India through its long-standing investment in education. With a total CSR contribution exceeding Rs 26 billion over the past two decades, NMDC has channelled more than Rs 6.9 billion into education initiatives alone, supporting over 1 lakh students annually in Chhattisgarh and Karnataka. “At NMDC, community development is a core part of our identity. By significantly increasing our CSR contribution in education year after year, we are educating not just an individual but a whole family, their gen..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?