HoABL and Mittal Builders partner for a township project in Naigaon near Mumbai, having ₹3,000 crore potential

The House of Abhinandan Lodha (HoABL) and Mittal Builders have inked a joint development agreement (JDA) to co-develop a three million sq ft integrated township project in Naigaon, near Mumbai.

The company announced that the project will include the construction of 4,600 apartments along with high street retail space. It is scheduled to launch in the current quarter (Q2 FY26) and entails an investment of ₹2,000 crore. The project is expected to achieve a Gross Development Value (GDV) of ₹3,000 crore over the next three to five years.

In a joint statement, the companies said that the development will be delivered in phases over five years. This joint venture (JV) marks a significant milestone in the ongoing partnership between Mittal Builders and HoABL, which was announced earlier this year, it said.

According to the statement, Mittal Builders has a 70-acre landholding in Naigaon with a potential of 6.5 million sq ft and a projected GDV exceeding ₹8,000 crore.

Trustcap, a Mumbai-based investment bank, acted as the sole financial advisor for the transaction.

Rakesh Pai, Chief Operating Officer of The HoABL, said, “The partnership between HoABL and Mittal Builders underscores our shared commitment to creating exceptional developments that truly resonate with the aspirations of today’s discerning homebuyers."

Together, we aim to deliver thoughtfully planned townships that prioritise quality construction, timely delivery, and a premium lifestyle. Our focus is on serving a broad community of buyers who value a seamless blend of comfort, reliability, and long-term value in their homes, Pai said.

According to the statement, the project is located within 2 km of Naigaon railway station on the suburban western railway line.

The statement said the development will also benefit from the upcoming Metro Line 13 extension (Mira-Bhayandar to Virar), the proposed Vasai-Virar-Panvel rail corridor, and feeder access to the Mumbai–Delhi Expressway.

“Our commitment to Naigaon goes beyond real estate as we are building a thriving community. With 2 million sq ft of delivered residential space housing over 2,000 families, and a school educating more than 2,500 students in Naigaon, we have already enabled a strong residential and social ecosystem," said, Akshay Mittal, promoter, Mittal Builders.

"This next phase, in partnership with HoABL, will mark the beginning of a long-term partnership focused on creating large-scale, high-quality real estate developments in the region and beyond," Mittal said.