Manglam Group to invest Rs 100 cr to redevelop housing society in Mumbai

New Delhi, Oct 6 (PTI) Realty firm Manglam Group will invest Rs 100 crore on the redevelopment of a housing society in Mumbai.

In a statement on Monday, the Jaipur-based company said it has entered into Mumbai's redevelopment market with the launch of a residential project, Manglam Rajanigandha, in Borivali (West).

The project is being developed under Manglam & Karnani Ventures LLP.

"With an investment of Rs 100 crore and a projected revenue of Rs 150 crore, the project is spread across 80,000 sq ft of prime land and is scheduled for completion by June 30, 2026," the company said.

The development will feature 80 apartments, with half reserved for existing tenants and the other half for sales.

Founded in 1997, Manglam Group has delivered 35,000 homes across various projects. It is also engaged in the hospitality segment. PTI MJH DRR