Reliance Acquires Maharashtra’s Largest Industrial Land Parcel

06 Jan 2025 CW Team

The acquisition was facilitated through Urban Infrastructure Holdings Pvt Ltd (UIHPL), where Reliance holds a 33% stake, Jai Corp Ltd owns 32%, and SKIL Infrastructure controls 35%. UIHPL's subsidiary, Dronagiri Infrastructure Pvt Ltd (DIPL), sold its 74% stake in Navi Mumbai IIA Pvt Ltd (NMIIA) to RIL for Rs 16.28 billion, valuing the entire project at Rs 22 billion.

Despite its significant economic potential, the transaction has been described by rating agencies as undervalued, given the recent appreciation in land prices and the minimal remaining capital expenditure required for the project. The site, cleared by the Environment Ministry, is expected to see increased demand for plots in the region.

Reliance has been actively investing in the area through its subsidiary Reliance 4IR Realty Development Ltd., which has advanced approximately Rs 61.62 billion for development activities in Dronagiri, Kalamboli, and Ulwe. Part of this funding has been used to acquire optionally fully convertible debentures of special purpose vehicles (SPVs) managing developments in the region.

The Board of Urban Infrastructure has also proposed reducing its share capital by 99.76%, redistributing Rs 37.46 billion among shareholders, including Rs 14.92 billion in equity returns and redemption of debentures worth Rs 6.82 billion. Following the conversion of debentures, Reliance and Jai Corp Group are set to hold substantial equity stakes in UIHPL, thereby gaining significant control over NMIIA.

This acquisition aligns with Reliance’s strategic investments in industrial and infrastructural development, positioning it to capitalise on the region’s growing economic and logistical importance.

(freepressjournal)

Reliance Industries Limited (RIL) has acquired Maharashtra's largest industrial land parcel, spanning over 5,286 acres near Navi Mumbai Airport, JNPT, and the Mumbai Trans Harbour Link (MTHL) project, for Rs 22 billion. The land, once part of the Navi Mumbai SEZ, holds immense economic potential, projected to exceed Rs 1 trillion following the operationalisation of the MTHL and Navi Mumbai Airport.The acquisition was facilitated through Urban Infrastructure Holdings Pvt Ltd (UIHPL), where Reliance holds a 33% stake, Jai Corp Ltd owns 32%, and SKIL Infrastructure controls 35%. UIHPL's subsidiary, Dronagiri Infrastructure Pvt Ltd (DIPL), sold its 74% stake in Navi Mumbai IIA Pvt Ltd (NMIIA) to RIL for Rs 16.28 billion, valuing the entire project at Rs 22 billion.Despite its significant economic potential, the transaction has been described by rating agencies as undervalued, given the recent appreciation in land prices and the minimal remaining capital expenditure required for the project. The site, cleared by the Environment Ministry, is expected to see increased demand for plots in the region.Reliance has been actively investing in the area through its subsidiary Reliance 4IR Realty Development Ltd., which has advanced approximately Rs 61.62 billion for development activities in Dronagiri, Kalamboli, and Ulwe. Part of this funding has been used to acquire optionally fully convertible debentures of special purpose vehicles (SPVs) managing developments in the region.The Board of Urban Infrastructure has also proposed reducing its share capital by 99.76%, redistributing Rs 37.46 billion among shareholders, including Rs 14.92 billion in equity returns and redemption of debentures worth Rs 6.82 billion. Following the conversion of debentures, Reliance and Jai Corp Group are set to hold substantial equity stakes in UIHPL, thereby gaining significant control over NMIIA.This acquisition aligns with Reliance’s strategic investments in industrial and infrastructural development, positioning it to capitalise on the region’s growing economic and logistical importance.(freepressjournal)

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Real Estate

09 Mar 2026

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Infrastructure Energy

09 Mar 2026

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..