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 Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..