Package 3 of Mithi River Rejuvenation Project covers Kurla–Mahim stretch from CST Road bridge to Mahim Causeway; Rs1,800-crore project with December 2029 completion deadline.

Project targets 309 MLD of untreated sewage entering river. Includes 18 gate-pump systems, sewage interception and diversion, major sewage pumping station, sewer lines, retaining walls and service roads.

Around 2,000 families in Dharavi, Kurla, Sakinaka and Vakola require rehabilitation. Project document allows 64 months completion; deadline December 2029.

BMC invites tenders for Project Management Consultant at estimated cost Rs10.60 crore for 64-month period including monsoons. PMC responsibilities: design vetting, construction supervision, commissioning, operation and maintenance, contractor coordination, contract management, dispute resolution, quality and safety monitoring, cost and timeline tracking.

Package awarded to Adani Group-led consortium November 2025. Major sewage pumping station proposed near Machhimar Colony in Mahim. Dry-weather flow interceptor to divert sewage to Dharavi sewage treatment plant.

18 gate-pump systems to be installed at locations including Moon Furniture, Kalpana Talkies and ONGC nallah. System blocks tidal water and pumps excess water during heavy rainfall, benefiting flood-prone Kurla and LBS Marg areas.

Mithi River originates Vihar Lake Powai, flows 17.8 km to Arabian Sea at Mahim Causeway. About 11 km from Filter Pada Powai to CST Road bridge Kurla under BMC; remaining 6 km stretch to Mahim Causeway under MMRDA.

Raymond Realty expects FY27 revenue growth of at least 20% and pre-sales growth above 20%, supported by a ₹4,100 crore launch pipeline. Its gross development value (GDV) is ₹52,000 crore: ₹25,000 crore from owned land and ₹27,000 crore from JDAs. Launched-but-unsold projects account for ₹15,700 crore and unlaunched projects for ₹24,000 crore.

Eight JDA projects have ₹27,000 crore revenue potential; four in Bandra East, BKC, Wadala and Sion are launched, with ₹11,500 crore potential. The company expects six of eight to launch by FY27-end. Two Mahim projects, with GDVs of ₹2,500 crore and ₹2,000–2,200 crore, are expected in Q3 and Q4; together they cover 0.80 million sq. ft. A Parel JDA has ₹8,500 crore GDV and may launch about 18 months after signing, subject to approvals.

FY27 targets include 17–19% EBITDA margin, 9–10% PAT margin and 20% ROCE. As of September 2026, borrowings were ₹1,220 crore, liquidity ₹306 crore and net debt ₹914 crore. Q2 FY27 pre-sales rose 98% YoY to ₹902 crore; H1 reached ₹1,602 crore, up 111% from ₹760 crore. Q2 collections rose 67% to ₹682 crore.

Raymond Realty’s Q2FY27 pre-sales rose 98% year on year to ₹902 crore, driven entirely by sustenance sales; the developer launched no projects during the quarter. Steady price realisation in its existing premium residential portfolio, including Address by GS, and homebuyer confidence also supported sales. Collections increased 67% year on year to ₹682 crore, reflecting cash-flow efficiency, customer demand and project execution. Raymond Realty plans to launch two projects in Mahim over the next two quarters, with combined gross development value exceeding ₹4,100 crore. The company kept leverage below its ceiling.

Between 2021 and H1 2026, available residential inventory fell 74% in South Mumbai, 24% in Navi Mumbai and 19% in Thane. Western Suburbs inventory rose 29%, while Peripheral Western inventory increased 240%, driven by new launches, metro connectivity and township supply, according to Anarock’s report on MMR’s real estate transformation. Navi Mumbai demand was supported by Atal Setu and NMIA; Thane by township sales and infrastructure upgrades. South Mumbai’s decline reflected limited launches and redevelopment-led absorption.

Across MMR, supply was 6,66,598 units, sales 6,93,855 and available inventory 1,73,103. The region spans 6,355 sq km and has a population of 27 million. Maharashtra Societies Welfare Association chairman Ramesh Prabhu said MMR’s current housing supply meets demand, but cluster redevelopment, especially in South Mumbai, could increase supply relative to demand over the next four-five years and stagnate prices.

Micro-markets listed: Vasai, Palghar, Mira Road East, Virar, Naigaon East; Malad West, Borivali East and West, Andheri East and West; Panvel, Taloja, Kharghar, Ulwe, Vashi; Byculla, Parel, Mahim, Girgaon, Worli; Dombivali, Bhiwandi, Kalyan West and East, Badlapur East; Pokhran Road, Majiwada, Kolshet Road, Ghodbunder Road; Chembur, Mulund West, Bhandup West, Vikhroli, Ghatkopar East.

Pranav Constructions Limited (PCPL) specializes in redevelopment of old housing societies across Mumbai's western suburbs: Vile Parle, Santacruz, Juhu, Bandra, Andheri, Goregaon, Ram Mandir, Malad, Kandivali, and Borivali. The company handles full project cycle including architecture, legal compliance, construction management, and RERA registration.

Completed projects: 29

• Malad (₹22,000–₹32,000 per sq ft): Marudhar, Union Bank of India Employees Ankur Residency, Gold Coin Residency, Nirvana, Gala Apartments, Rushabh Mahal Residency, Rajhans, Rajendra Apartments, Deep, Silverene, Amber, New Shalimar Apartments
• Borivali (₹25,000–₹40,000, premium ₹50,000+): Lakshman Towers, Kesar Niketan, Neon Heights, Flora Enclave, Ohana, Shivdarshan
• Goregaon (₹26,000–₹32,000): Mettivilla, Navchandrakunj, Plot 212, New Lata Apartments, Prachiti, Kiran Apartment
• Kandivali West (₹22,000–₹30,000): Abhiram

Ongoing: 17 projects

• Santacruz East and West (₹28,000–₹45,000): Jamuna Mahal, Samrat, Pearl Palace, Shining Star, 42 Aura
• Borivali West: Lakshman Tower
• Malad West: Falcon Crest, Kaveri, Ankur Residency, Nirvana
• Goregaon West: Om Manikanta
• Bandra West (₹35,000–₹56,000): Gulnar, Citizen Apartments
• Andheri West (₹38,000–₹55,000): Vaibhav Vista, You & I CHSL, Nandadeep
• Kandivali West: Rajesh Mandir
• Vile Parle West (₹43,000): Nirmal Bhavan
• Mahim West (₹29,000–₹49,000): Vivante

Upcoming: 17 projects

• Andheri: Daulat Rao Desai CHSL, Nutan CHSL
• Vile Parle: Vile Parle Anupam CHS, Amarhind
• Bandra: 51 Adriel, The Bandra Gul-E-Baug CHSI, Ahlyakunj, Citizen
• Santacruz West: Priyadarshini CHSL, Sompuri Market, Kirti Manohar
• Borivali West: Navjeevan CHSL, Hill View CHSL
• Malad West: Shri Santoshi Nagar
• Ram Mandir: Rajnigandha

Founded by Late Kiran Dharamsey Ashar. Currently led by Pranav Ashar (Chairman and Managing Director) and Ravi Ramalingam (Director).