RICL commences work on Kalyan Marina
ECONOMY & POLICY

RICL commences work on Kalyan Marina

Royal India Corporation Limited (RICL) has announced the commencement of work on the highly anticipated Kalyan Marina, a colossal venture of Rs 450 crore and will generates revenues of INR 175 crores. This ambitious project, spanning across a sprawling 2.2 acre plot marks a significant milestone in the organisation?s commitment to creating luxurious living spaces.

The project is set to kickstart in May 2024 which will breathe new life into modern living in Kalyan. A monumental development of 5 lakh square feet aims to offer spacious living spaces coupled with world-class amenities, setting new standards of comfort in the region. Additionally, integrated within this visionary endeavor will be commercial spaces providing convenient access to essential services and enhancing the overall lifestyle experience.

Kalyan Station, poised to become a super station, has garnered resounding endorsement from the Prime Minister himself. The anticipated upgrade, estimated at ?900 crore ($121m), will segregate tracks for suburban local trains and express trains, enhancing punctuality and minimising passenger inconvenience. Adding to the allure of this burgeoning hub is the Kalyan Marina, just a brief 2-minute walk from the station.

Key investors in this venture include industry stalwarts Sunder Iyer and Mangal Keshav?s family offices, whose vision and expertise further reinforce the project's potential for success, they will be the largest non-promoter share holders after the preferential issue of INR 100 crore which is due to open post 25th April (subject to approvals from the exchanges). The promoters are also increasing their stake in the company by 5% from the following preferential offer.

Our commitment to crafting extraordinary living experiences for our discerning clientele shines through in this project, shared Manoj Punamiya, CEO of Royal Indian Corporation Limited (RICL). With this endeavor, we aspire not only to deliver luxurious accommodations but also to enrich the burgeoning landscape of Kalyan as a premier real estate destination.

Situated strategically in prime locations, Royal India Corporation Limited?s (RICL) previous ventures such as Vertu in Wadala and Coitre D in Matunga have garnered widespread acclaim for their superior craftsmanship and attention to detail. As Kalyan continues to emerge as a prominent real estate destination, the Kalyan Marina will drive further regional growth and development, characterized by luxury, convenience, and connectivity.

Royal India Corporation Limited (RICL) has announced the commencement of work on the highly anticipated Kalyan Marina, a colossal venture of Rs 450 crore and will generates revenues of INR 175 crores. This ambitious project, spanning across a sprawling 2.2 acre plot marks a significant milestone in the organisation?s commitment to creating luxurious living spaces. The project is set to kickstart in May 2024 which will breathe new life into modern living in Kalyan. A monumental development of 5 lakh square feet aims to offer spacious living spaces coupled with world-class amenities, setting new standards of comfort in the region. Additionally, integrated within this visionary endeavor will be commercial spaces providing convenient access to essential services and enhancing the overall lifestyle experience. Kalyan Station, poised to become a super station, has garnered resounding endorsement from the Prime Minister himself. The anticipated upgrade, estimated at ?900 crore ($121m), will segregate tracks for suburban local trains and express trains, enhancing punctuality and minimising passenger inconvenience. Adding to the allure of this burgeoning hub is the Kalyan Marina, just a brief 2-minute walk from the station. Key investors in this venture include industry stalwarts Sunder Iyer and Mangal Keshav?s family offices, whose vision and expertise further reinforce the project's potential for success, they will be the largest non-promoter share holders after the preferential issue of INR 100 crore which is due to open post 25th April (subject to approvals from the exchanges). The promoters are also increasing their stake in the company by 5% from the following preferential offer. Our commitment to crafting extraordinary living experiences for our discerning clientele shines through in this project, shared Manoj Punamiya, CEO of Royal Indian Corporation Limited (RICL). With this endeavor, we aspire not only to deliver luxurious accommodations but also to enrich the burgeoning landscape of Kalyan as a premier real estate destination. Situated strategically in prime locations, Royal India Corporation Limited?s (RICL) previous ventures such as Vertu in Wadala and Coitre D in Matunga have garnered widespread acclaim for their superior craftsmanship and attention to detail. As Kalyan continues to emerge as a prominent real estate destination, the Kalyan Marina will drive further regional growth and development, characterized by luxury, convenience, and connectivity.

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?