Modis Navnirman shines on securing redevelopment mandate for Neel Kiran CHSL in Khar West
Modi's Navnirman is currently trading at Rs. 357.00, up by 9.05 points or 2.60% from its previous closing of Rs. 347.95 on the BSE.
The scrip opened at Rs. 359.90 and has touched a high and low of Rs. 359.95 and Rs. 349.80 respectively. So far 1554 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 415.00 on 04-May-2026 and a 52 week low of Rs. 244.15 on 04-Jun-2025.
Last one week high and low of the scrip stood at Rs. 415.00 and Rs. 333.45 respectively. The current market cap of the company is Rs. 692.26 crore.
The promoters holding in the company stood at 63.79%, while Institutions and Non-Institutions held 9.98% and 26.23% respectively.
Modis Navnirman (MNL) has been appointed as the developer for the redevelopment of Neel Kiran Co-operative Housing Society (CHS), a landmark residential society located in Khar West, Mumbai.
The appointment follows a redevelopment selection process conducted by the society, culminating in the members selecting Modis Navnirman as their preferred redevelopment partner. The project is expected to contribute approximately Rs 250 crore in Gross Development Value (GDV) to the company's redevelopment portfolio.
Located in one of Mumbai's most sought-after residential neighbourhoods, Neel Kiran CHSL occupies a strategic position in Khar West, a market known for its strong residential demand, established social infrastructure and enduring appeal among homebuyers. The redevelopment is expected to deliver modern residential infrastructure, enhanced amenities and a contemporary living environment while creating long-term value for existing members.
