Shapoorji Pallonji Sells Mumbai Land for Rs 455 cr

Mumbai, Dec 10 (PTI) Shapoorji Pallonji Gwalior Pvt Ltd, a part of Shapoorji Pallonji Group, has sold 1,820 square metre land at Juhu in Mumbai for Rs 455 crore, according to property consultant Square Yards.

"Agarwal Holdings Pvt Ltd has acquired a land parcel in Juhu locality of Mumbai, valued at Rs 455 crore," Square Yards said in a statement on Tuesday.

The plot was acquired from Shapoorji Pallonji Gwalior Private Limited, a part of Shapoorji Pallonji Group, a prominent business conglomerate with diversified interests across construction and engineering, infrastructure, real estate, energy and textiles among others.

According to the registration document reviewed by Square Yards, the land parcel spans an area of about 1,819.90 square metre (19,589.22 sq ft).

The transaction was finalised and registered in November 2024, with a stamp duty of Rs 27.30 crore and registration charges amounting to Rs 30,000.

"Only a smaller portion of the Juhu land has been monetised with the larger parcel remaining under the group's ownership," Shapoorji Pallonji Group spokesperson said.

Anand Moorthy, Co-founder and CBO - Capital Market & Services at Square Yards, said, "Mumbai's position as India's financial capital and a strategic business hub continues to draw BFSI firms and their allied industries to the city."

Juhu remains a prime residential destination in Mumbai, driven by its coastal appeal, proximity to international airport, luxury housing stock and strong social infrastructure.

Agarwal Holdings, established on December 11, 2020, is a private, non-government entity registered with the Registrar of Companies in Mumbai.

The company specialises in activities auxiliary to financial intermediation, providing essential support to financial institutions such as banks, investment firms and insurance companies.

Its range of services includes managing loan applications, conducting credit analysis, offering investment advice, facilitating insurance brokerage and handling financial transactions, enabling smoother operations across the financial sector, Square Yards said.