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(19 Mar 2026, 10:59)

Modis Navnirman jumps after commencing construction of 'Rashmi Avenue' project

Modis Navnirman rose 2.99% to Rs 317.20 after the company announced the commencement of construction of its residential project 'Rashmi Avenue' in Dahisar (West), Mumbai.


The project is a mixed-use redevelopment spanning around 4,836.25 sq. metres and will comprise 225 residential apartments, 18 commercial shops and one office space. It will replace an existing structure with 119 residential units and 17 shops.

Located in Dahisar, the development is expected to benefit from improving connectivity and access to social infrastructure, positioning it as an attractive offering for both homebuyers and businesses.

The company said the project aligns with its focus on redevelopment-led growth and aims to deliver modern, community-centric living spaces.

Mumbai-based Modis Navnirman is a real estate developer focused on redevelopment projects, with a presence across residential and mixed-use developments in the city.

On a standalone basis, Modis Navnirman's net profit rose 82.17% to Rs 12.77 crore on 69.99% increase in net sales to Rs 54.43 crore in Q3 December 2025 over Q3 December 2024.


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