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NCC Urban Infrastructure Ltd has entered Mumbai's real estate sector with a redevelopment project in Versova, involving 4 lakh sq ft of built-up area and projected revenue of INR 700 crore. Known for operations in cities like Bengaluru, Hyderabad, and Dubai, the company is expanding across western India. Redevelopment is a growing trend in MMR, with other out-of-region developers like Ramky Estates, Kolte Patil, and DLF also entering via similar routes. Mumbai's 25,000+ buildings eligible for redevelopment, along with government incentives and steady housing demand, make the region a lucrative choice. The move aligns with broader goals for affordable housing by 2030.
NCC Urban Infrastructure Ltd has officially marked its entry into Mumbai's real estate sector with a redevelopment project in Versova. The company has entered into an agreement with a local housing society to redevelop approximately 400,000 sq ft of built-up area. The project is estimated to generate a top line of nearly INR 700 crore. Advertisement
This foray into Mumbai aligns with NCC Urban's broader expansion strategy across western India. Until now, the company's core presence has been in cities such as Bengaluru, Hyderabad, Kochi, Vizag, Ranchi, Guntur, and even internationally in Dubai.
The company's decision to enter via the redevelopment route is not novel. Earlier this year another Hyderabad based developer, Ramky Estates announced it had acquired the development rights for a 1.5 acre slum redevelopment project in Chembur. This will be the company's maiden project in the region and is expected to generate revenue of INR 500 crore.
Recently, MMR has seen several established developers entering the market through joint ventures for residential redevelopment projects. Pune based Kolte Patil and Vascon Engineers, Delhi based DLF and Bengaluru based Prestige Group are some of the companies who have undertaken such projects.
Mumbai is said to have over 25,000 residential buildings eligible for redevelopment. The state government has been encouraging redevelopment and slum rehabilitation projects by way of incentives, interest waivers, special schemes and regulatory relaxations. These actions are part of a broader plan to create affordable housing for all 2030. The residential market sentiment in most parts of MMR remains positive in spite of global uncertainty, with prices remaining stable in Q1 2025. These factors collectively make MMR an attractive and seemingly profitable market for builders across the country.
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