2024-02-18 08:23:03
New Delhi: Gautam Adani, the country’s second richest man and chairman of Adani Group, has played a long role. His company Adani Realty has won a project worth Rs 30,000 crore in Mumbai, beating Larsen & Toubro. The company has made the highest bid in the redevelopment project of Branda Reclamation spread over 24 acres of Bandra-Worli. This project is of Maharashtra State Road Development Corporation (MSRDC). In this, Adani Realty had offered 23.15 percent revenue share to MSRDC while Larsen & Toubro had offered only 18 percent share in the revenue of the project to the corporation. According to media reports, a final decision in this matter will be taken in the MSRDC board meeting next week. According to a report in Business Today, this land is close to Mahim Bay and Bandra-Worli Sea Link approach road. There is a casting yard and MSRDC office on it. This plot has been allotted for commercial and residential use and its estimated value is Rs 30,000 crore. 45 lakh square feet area can be developed on this. The price of residential land in Bandra Reclamation is around Rs 83,000 per square foot. As per the terms of the bid, Adani Realty will have to pay Rs 8,000 crore or 23.15 per cent of the revenue earned from the project (whichever is higher) to MSRDC. 10 years time has been given to fulfill these conditions.
Gautam Adani comes closer to Mukesh Ambani with bumper earnings, returns to 100 billion dollar club
Dharavi’s work
Adani Group’s business is spread across many sectors. Adani Group has also got the work of redevelopment of Dharavi, Asia’s largest slum in Mumbai. His company Dharavi Redevelopment Project Private Limited (DRPPL) has started hiring global teams for planning and designing this project. In November 2022, Adani’s real estate development company Adani Properties had made the largest bid for the redevelopment project of Dharavi. Adani Group has 80 percent stake in DRPPL and Maharashtra Government has 20 percent stake. Adani Properties had bid Rs 5,069 crore for this. Dharavi is spread over about 600 acres and is the largest slum in Asia.