Mumbai Housing Redevelopment: MoU Signed Between Mahapreet and NBCC

27th March 2025 at 8:31 PM

1 minute read

Mumbai: Mahatma Phule Renewable Energy and Infrastructure Technology Limited (Mahapreet) and NBCC (India) Limited, New Delhi, a Navratna company under the Ministry of Housing and Urban Affairs, Government of India, have signed a Memorandum of Understanding (MoU) in Mumbai to implement various infrastructure projects.

NBCC (India) Limited specializes in large housing projects, IT infrastructure, and conceptualization and execution of infrastructure projects both domestically and internationally, including project funding.

Mahapreet is currently executing major projects such as the Thane Cluster Development Project, Bhiwandi Municipal Corporation, and Chandrapur Municipal Corporation under the Pradhan Mantri Awas Yojana (PMAY) and affordable housing schemes. In Mumbai, Mahapreet will implement around 56 SRA (Slum Rehabilitation Authority) projects. Several private cooperative housing societies in Mumbai and MMR have also approached Mahapreet for redevelopment discussions. Under this MoU, Mahapreet and NBCC will collaborate to meet Mumbai’s housing redevelopment needs.

Mahapreet focuses on ESG compliance, clean and green energy standards, waste recycling, decarbonized materials, modern eco-friendly construction technologies, and international standards for project monitoring. Considering the expertise and capabilities of both organizations, they have agreed to undertake PMC (Project Management Consultancy) and EPC (Engineering, Procurement & Construction)-based projects.

Mahapreet’s Managing Director Bipin Shrimali stated that the collaboration with NBCC will facilitate housing redevelopment and provide opportunities for societies to undergo transformation. As central government agencies will now have the option to select developers, redevelopment projects will be executed as per state government regulations.

NBCC Chairman and Managing Director K.P. Mahadevaswamy mentioned that the joint efforts of NBCC (India) and Mahapreet will drive redevelopment projects in Mumbai and surrounding regions. Similar projects will also be jointly executed in New Delhi and other states.

Present at the event were Mahapreet’s Director Purushottam Jadhav, Executive Director Subhash Nage, Project Director P.R.K. Murthy, Executive Director Sunil Pote, and NBCC’s Executive Directors Pradeep Sharma, Pravin Doifode, along with other officials.