Nesco's Mega Mumbai Makeover: ₹3,500 Cr IT Tower 2 Greenlit!

Nesco Limited has received Board approval for a capital expenditure of up to ₹3,500 crore for the development of Tower 2 in its IT Park at Nesco Center, located in Goregaon (East), Mumbai. The decision follows the receipt of the ‘Intimation of Disapproval’ (IOD) from the Brihanmumbai Municipal Corporation (BMC)—a key preliminary clearance that enables the project to proceed.

In a regulatory filing, the company noted that the investment will be implemented in phases over six years, subject to the timely receipt of necessary statutory approvals. The project will be funded primarily through internal accruals, highlighting Nesco’s strong financial position.

Once completed, Tower 2 is expected to significantly enhance Nesco’s IT infrastructure portfolio in Mumbai, reinforcing its position in the commercial real estate segment. Nesco’s diversified business operations span IT park leasing, industrial equipment manufacturing, exhibitions, and hospitality and catering services.

News by Rahul Yelligetti.