February 17, 2024Anmol Nagpal

Adani Realty secures Rs 30,000 crore bid for Bandra land parcel project

Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation as per media reports.

Source: Pixabay

The final approval is pending and will be decided by the MSRDC Board in their upcoming meeting.

Source: Oberoi Realty

Adani Realty emerged as the 'preferred bidder' by offering the highest financial bid, providing 22.79% revenue to MSRDC.

Source: Unsplash

This surpassed Larsen and Toubro's bid of 18 percent, as per the report.

Source: Iceland

The decision comes despite L&T having a stronger net worth of approximately Rs 84,000 crore compared to Adani's Rs 48,000 crore.

Source: Pixabay

The land parcel has a potential development area of 45 lakh square feet and is valued at around ₹30,000 crore, according to media reports.

Source: Freepik