Modis Navnirman bags ₹160 crore Mumbai redevelopment project; stock jumps 4.5%Modis Navnirman bags ₹160 crore Mumbai redevelopment project; stock jumps 4.5%

Introduction

Leading real estate developer secures ₹160 crore mandate to redevelop New Chitra Co-operative Housing Society in Kandivali West, Mumbai, constructing a modern commercial-cum-residential tower with upgraded amenities.

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Share price movement of Modis Navnirman

On March 4, 2026, Modis Navnirman Ltd opened at ₹331.00, up 4.15% from its previous close of ₹317.90. The stock reached a high of ₹331.00 (4.15%) and a low of ₹314.95. By 4:00 PM, it traded at ₹314.95, a 0.93% decrease, with a market cap of ₹617.02 crore.

Modis Navnirman Bags Redevelopment Project

Modis Navnirman Limited has been appointed to redevelop New Chitra Co-operative Housing Society in Kandivali West, Mumbai. The existing 14-storey building will be completely demolished for new construction.

The project will be developed on a 2,300 sq. meter land parcel. The estimated Gross Development Value (GDV) of the new commercial-cum-residential tower is ₹160 crore.

Redevelopment includes modern residences, commercial spaces, and upgraded amenities. Existing members will receive larger, well-designed homes with dedicated parking and improved common infrastructure.

The new tower will incorporate energy-efficient systems, rainwater harvesting, fire safety, smart technologies, and sustainability features. Kandivali West’s connectivity and social infrastructure support the project’s strategic location.

Stock performance of Modis Navnirman for period of 1 week, 6 months, and 1 year

Modis Navnirman Ltd fell 4.76% over the past week, rose 12.6% in the past 6 months, and gained 32.3% over the past 1 year.

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Shareholding pattern of Modis Navnirman

Particulars	Dec 2025	Sep 2025	Jun 2025
Promoter	63.80%	63.80%	63.80%
FII	11.20%	11.50%	10.40%
DII	1.20%	0.80%	0.50%
Public	23.90%	24.00%	25.30%

About Modis Navnirman

Modis Navnirman Limited (NSE: MODIS) is a Mumbai-based real estate developer specializing in redevelopment of residential and mixed-use properties, focusing on modern design, quality construction, and timely project delivery.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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