Modi's Navnirman , a prominent player in Mumbai's redevelopment real estate sector, has successfully completed a fast-track merger with its wholly-owned subsidiary, Shree Modis Navnirman Private Limited. This strategic move marks a significant milestone in the company's growth trajectory and sets a new precedent in the Indian real estate industry.

Key Highlights of the Merger

• Industry First: This merger represents India's second fast-track merger and the first listed fast-track merger in Mumbai's real estate segment.
• Shareholder Approval: The merger received overwhelming support, with over 90% of shareholders approving the consolidation.
• Strategic Benefits: The merger is expected to yield several advantages for Modi's Navnirman:

Management Perspective

Mahek Modi, Whole Time Director and Chief Financial Officer of Modi's Navnirman, expressed optimism about the merger's impact. "The successful completion of this merger marks a historic moment for Modi's Navnirman," Modi stated. "With this strategic consolidation, we are better positioned to accelerate our growth and strengthen our foothold in Mumbai's dynamic real estate market."

Company Background

Modi's Navnirman, founded by Dinesh C. Modi in 2010, has quickly established itself as a fast-growing player in Mumbai's redevelopment real estate sector. The company focuses on delivering large, luxurious projects that aim to upgrade the lifestyles of their customers while adhering to principles of responsible innovation.

Looking Ahead

The merger is expected to play a crucial role in Modi's Navnirman's future growth strategy. By consolidating operations and resources, the company aims to enhance its competitive edge in the Mumbai real estate market. However, as with any forward-looking statements, actual results may differ due to various factors including regulatory changes and local economic developments.

This strategic move by Modi's Navnirman underscores the dynamic nature of Mumbai's real estate sector and highlights the importance of corporate agility in driving growth and shareholder value in a competitive market landscape.

Modi's Navnirman Limited , a Mumbai-based real estate developer, has released its investor presentation, showcasing robust growth across key financial metrics and operational achievements.

Financial Highlights

The company reported impressive financial results:

Modi's Navnirman's EBITDA margin improvement of 358 basis points year-over-year indicates enhanced operational efficiency.

Operational Performance

The company's operational metrics also showed significant growth:

• Sold approximately 40,000 square feet across 60 units
• Generated sales value of Rs. 86.52 crore
• Collections totaled Rs. 115.27 crore, up 96% year-over-year

Project Expansion

Modi's Navnirman launched three new projects, focusing on:

1. Society redevelopment
2. Mid-income housing

These projects are located in Mumbai's suburban markets, including Malad, Kandivali, and Borivali, aligning with the company's strategic focus on urban redevelopment.

Business Model and Portfolio

Modi's Navnirman operates through an asset-light, partnership-driven model, specializing in:

• MHADA (Maharashtra Housing and Area Development Authority) projects
• SRA (Slum Rehabilitation Authority) projects
• Society redevelopment projects

The company's project portfolio includes:

• Over 5.90 lakh square feet delivered
• 7.40 lakh square feet ongoing
• 10+ lakh square feet upcoming across 20 premium residential projects

This diverse portfolio demonstrates Modi's Navnirman's strong presence in Mumbai's real estate market and its focus on urban renewal and redevelopment projects.

The company's growth strategy, focusing on society redevelopment and mid-income housing in Mumbai's suburban markets, appears to be yielding positive results as reflected in its financial and operational performance.