Adani set to bag one of Mumbai's largest housing projects worth $4.1 billion: Report
By : Sandhya
According to two persons with knowledge of the matter, billionaire Gautam Adani's real estate company has won the bid to renovate one of Mumbai's biggest housing developments for an estimated 360 billion rupees ($4.1 billion).
The two individuals, who wished to remain anonymous since the specifics are confidential, claimed that Adani Properties Pvt Ltd, an unlisted division of the port-to-power behemoth Adani Group, was the "H1 bidder" because it submitted the highest proposal for the Motilal Nagar Development Project in the western neighborhood of Goregaon.
According to them, Adani Properties would soon receive a Letter of Intent from the Maharashtra state government officially announcing its victory. An Adani Group representative chose not to comment. Maharashtra Housing and Area Development Authority representatives remained silent.