Meghna Infracon Infrastructure Limited (MIIL), a growing name in Mumbai's real estate sector, has entered into a major redevelopment agreement in the upscale neighbourhood of Prabhadevi, South Mumbai. The project marks a strategic expansion for the company into a premium location, with an estimated revenue potential of ₹800 million (₹80 crore).

The announcement was made through an official communication to the stock exchanges on June 23, 2025.

Strategic Location and Project Overview

The redevelopment project covers approximately 31,000 sq. ft. of construction area in the Dadar/Prabhadevi region. Known for its sea-facing and city-facing real estate value, this location offers excellent connectivity to Shivaji Park, Prabhadevi railway station, major corporate hubs, and all essential civic infrastructure such as hospitals, schools, colleges, and shopping centers, all within a 2 km radius.

The company plans to launch the project in the calendar year 2025, eyeing the aspirational luxury segment of Mumbai's residential market.

Comments from Management

Speaking about the expansion, Mr. Vikram Jayantilal Lodha, Managing Director of Meghna Infracon, stated:

“This development is part of our strategy to focus on the fast-growing aspirational segment of the real estate market. Dadar and Prabhadevi offer great accessibility and premium demand. This agreement aligns with our expansion roadmap and helps us enter one of the most prominent micro-markets in Mumbai.”

The company has already established a presence in Goregaon and Andheri, where it has successfully completed several gated residential developments.

Project Highlights and Business Impact

The new Prabhadevi project is expected to:

• Boost Meghna Infracon’s brand visibility in South Mumbai’s real estate landscape

• Open new high-revenue opportunities in the luxury residential segment

• Help the company capture aspirational demand in well-connected, high-demand urban neighborhoods

• Reinforce the firm’s position as a serious real estate developer in Mumbai's western and southern corridors

About Meghna Infracon Infrastructure Limited

Previously known as Naysaa Securities Ltd., Meghna Infracon Infrastructure Limited (BSE Script Code: 538668) has transitioned into a real estate-focused company. It now actively develops premium residential projects, especially in the western Mumbai region. The company has developed projects in Goregaon and Andheri, and its entry into Prabhadevi signals a move into more upscale and revenue-intensive markets.

MIIL is known for its ability to identify prime real estate, forge effective development partnerships, and create projects that appeal to aspirational and premium buyers in India’s most dynamic housing market — Mumbai.

Strategic Shift Toward Urban Redevelopment

Urban redevelopment is gaining massive traction in Mumbai due to:

• Scarcity of vacant land parcels in the city

• Rising demand for modern housing with lifestyle amenities

• Government’s pro-redevelopment policies encouraging private participation

Meghna Infra’s entry into this space not only strengthens its portfolio but also aligns with Mumbai’s urban renewal drive aimed at replacing ageing structures with smart, sustainable, and livable spaces.

Looking Ahead: Growth and Revenue Outlook

The ₹800 million project is poised to enhance the company’s financial performance, potentially unlocking higher margins due to the project's premium location and segment. With its continued focus on micro-market specific expansion, Meghna Infra is well-positioned to tap into:

• Luxury housing demand in South Mumbai

• Re-development opportunities across aging residential clusters

• Collaborations with landowners and societies seeking trusted redevelopment partners

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