Nesco Limited, a prominent name in India’s real estate and infrastructure sector, has secured the Intimation of Disapproval (IOD) from the Brihanmumbai Municipal Corporation (BMC) for its ambitious Tower 2 development project at its IT Park in Goregaon (East), Mumbai.
This marks a significant step forward for the company’s plans to expand its footprint in the commercial and hospitality sectors, while embracing eco-friendly and sustainable practices. The Tower 2 project at Nesco Center will be a massive undertaking, with a constructed area spanning approximately 5.01 million square feet. It will feature a state-of-the-art IT Park, catering to premium office spaces designed to foster innovation and collaboration. Alongside the office spaces, the development will include a high-end hotel, featuring 732 rooms and suites, as well as 172 serviced apartments. With this project, Nesco aims to position itself at the forefront of Mumbai’s commercial real estate boom, offering cutting-edge infrastructure to both multinational corporations and high-profile hotel guests. One of the most compelling aspects of this development is its focus on sustainability. Designed by renowned architectural firm Aedas, the project will incorporate eco-friendly building practices and sustainable construction methods. The importance of such green initiatives cannot be overstated in today’s rapidly evolving real estate landscape, where sustainable and environmentally-conscious practices are increasingly seen as crucial for long-term success. Nesco’s dedication to these principles aligns with the growing emphasis on zero net carbon and sustainable urban development across India.
Moreover, the project is expected to create approximately 24,500 direct jobs, providing significant employment opportunities in the region. The development’s contribution to local employment, alongside its commitment to green construction, underscores Nesco’s role in shaping the future of Mumbai as a hub for both business and sustainable living. This project is particularly significant given the role of corporate communication and transparency in today’s real estate market. Nesco has demonstrated a commitment to maintaining strong relations with local authorities and stakeholders, which is essential in ensuring smooth execution. With the receipt of the IOD from BMC, the company is now set to proceed with construction in the third quarter of FY 2025-26, with funding primarily sourced through internal accruals. In addition to the Tower 2 project, Nesco continues to make strides in its other business sectors, including exhibitions, hospitality, and manufacturing. The company’s IT Parks division, which accounts for 41% of its revenue, is poised for further expansion with this new development. The Bombay Exhibition Center, Nesco’s flagship venue, contributes another 27% to the company’s overall revenue, cementing its position as one of India’s largest private exhibition spaces.
For Nesco, the Tower 2 development is not just about adding another project to its portfolio it is about reaffirming its commitment to sustainable growth and the future of urban development in India. As the country’s commercial landscape continues to evolve, projects like these will play a pivotal role in shaping the next phase of Mumbai’s growth.
