Modis Navnirman Limited has informed the Exchange regarding a press release dated March 19, 2026, titled "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,please find enclosed herewith a Press Release titled".
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Modis Navnirman Limited has begun construction of its new mixed-use redevelopment project 'Rashmi Avenue' in Dahisar (West), Mumbai, marked by a Bhoomi Poojan ceremony on March 19, 2026. The project sits on a plot of approximately 4,836 sq. mtrs. and will feature 225 residential apartments, 18 commercial shops, and 1 commercial office. It will replace the existing structure of 119 residential flats and 17 commercial shops on the same site. The company is positioning this as part of its ongoing redevelopment-led growth strategy in Mumbai's suburban markets.
This is a project execution milestone rather than a financial event — no order value, revenue figure, or guidance was disclosed. For shareholders, it signals pipeline progress and continued focus on redevelopment, but the announcement is unlikely to move the stock significantly on its own.