Modis Navnirman Limited has informed the Exchange regarding a press release dated February 09, 2026, titled "Modis Navnirman Limited Begins Construction with Bhoomi Poojan of 200+ UnitResidential Project Rashmi Icon in Malad, Mumbai".
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Modis Navnirman Limited has begun construction of a new residential project named 'Rashmi Icon' in Malad, Mumbai. The project will have more than 200 housing units. The company marked the official start with a Bhoomi Poojan (traditional ground-breaking ceremony). The announcement is based on a press release dated February 9, 2026, shared with the stock exchange. This adds a new project to the company's residential development pipeline in the Mumbai market.
This is a positive business development update, showing the company is actively expanding its project portfolio. Once units are sold and delivered, this project can contribute to future revenue, though near-term stock impact may be limited until sales traction is visible.