Nesco Limited — Updates, 29-03-2025: Press Release

Nesco Limited has received an Intimation of Disapproval (IOD) from the Brihanmumbai Municipal Corporation (BMC) for its planned development of Tower 2 in the Nesco Center IT Park, measuring approximately 5.01 million sqft. This project includes a state-of-the-art IT Park, offering around 1.65 million sqft of premium office space designed to attract leading enterprises, promising to directly employ around 24,500 individuals.

Additionally, the project features a hotel with approximately 732 rooms and 172 serviced apartments, positioning it to be potentially the largest hotel in the country. The hotel aims to facilitate business travel and large events, enhancing the overall offering at the IT Park.

Construction for Tower 2 is projected to commence in the third quarter of FY 2025-26 and will take an estimated 48 months to complete, contingent on obtaining necessary approvals. Funding will primarily come from internal accruals. This initiative aligns with Nesco's objectives of promoting sustainable urban development and economic growth in the region, making it a key project to watch closely.