Nesco Limited, a leading player in India’s real estate and infrastructure sector, has received the Intimation of Disapproval (IOD) from the Brihanmumbai Municipal Corporation (BMC) for its ambitious Tower 2 development project at Nesco Center, Goregaon (East), Mumbai. This approval marks a crucial milestone in the company’s expansion into commercial and hospitality spaces, reinforcing its commitment to sustainable and eco-friendly development.
A Landmark Development in Mumbai’s Commercial Landscape:
The Tower 2 project at Nesco Centre is set to be a landmark addition to Mumbai’s business district, with a total constructed area of approximately 5.01 million square feet. This state-of-the-art development will house:
- A world-class IT Park offering premium office spaces designed to foster innovation and collaboration.
- A high-end hotel featuring 732 luxury rooms and suites along with 172 serviced apartments, catering to both business and leisure travellers.
With this project, Nesco aims to position itself as a leader in Mumbai’s commercial real estate sector, providing cutting-edge infrastructure tailored for multinational corporations and high-profile hospitality guests.
Sustainability at the Core:
Designed by the renowned architectural firm Aedas, the Tower 2 project prioritizes sustainability, integrating eco-friendly building practices and green construction methods. As India moves toward zero net carbon initiatives, Nesco’s commitment to environmentally responsible urban development aligns with the nation’s broader sustainability goals.
Boosting Employment & Economic Growth:
Beyond its infrastructural impact, the project is expected to generate approximately 24,500 direct jobs, significantly contributing to local employment and economic development. By fostering business growth and sustainable urbanization, Nesco is actively shaping Mumbai’s future as a global business hub.
Strategic Execution & Financial Strength:
With the IOD approval secured, Nesco is set to commence construction in Q3 of FY 2025-26, with funding primarily sourced through internal accruals. The company’s strong financial position ensures the seamless execution of this ambitious project.
Expanding Nesco’s Business Footprint:
Nesco continues to expand its influence beyond real estate, with strong performances in:
- IT Parks Division – contributing 41% of the company’s revenue and poised for further growth with Tower 2.
- Bombay Exhibition Center – one of India’s largest private exhibition spaces, accounting for 27% of Nesco’s revenue.
- Hospitality & Manufacturing – diversifying Nesco’s portfolio across multiple high-growth sectors.
Shaping the Future of Mumbai’s Urban Development:
For Nesco, Tower 2 is more than just another commercial project, it represents a vision for sustainable growth and innovation. As Mumbai continues to evolve into a global business and hospitality hub, projects like Tower 2 will play a pivotal role in defining the city’s next phase of expansion and progress.