Page 32 - Construction_Opportunities_July_2026

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MARATHON NEXTGEN REALTY STRENGTHENS MUMBAI SOWPARNIKA PROJECTS STRENGTHENS KERALA
PRESENCE WITH SEWRI PROJECT WORTH `450 CRORE. PRESENCE WITH NEW HOUSING DEVELOPMENTS
Marathon Nextgen Realty Ltd (MNRL) has announced its entry into Bengaluru-based real estate developer Sowparnika Projects
Sewri, Mumbai, through a joint development agreement (JDA) plans to invest `200 crore in Kerala over the next three years as
signed by its subsidiary Sunset Spaces Private Limited for a cluster it expands its residential footprint across key markets in the state.
redevelopment project. The company has outlined a growth roadmap targeting sales
The proposed development will feature a high-rise residential tower of `150 crore in FY27, `225 crore in FY28 and `350 crore in FY29,
along with high-street retail spaces and will be developed on a taking its cumulative projected sales value to `725 crore during
land parcel measuring approximately 7,500 square metres. The the three-year period.
project is estimated to have a Gross Development Value (GDV) As part of its expansion strategy, Sowparnika Projects has launched
of around `450 crore for MNRL, subject to statutory approvals, Sowparnika Florenzza, a premium residential apartment project
final development plans, applicable regulations and market in Kunnamangalam, Kozhikode. The development marks the
conditions. company’s second project in the district.
Commenting on the project, Parmeet Shah, Director, Sunset Located along NH-766, the project offers connectivity to Kozhikode
Spaces Private Limited, said the Sewri development marks city and Calicut International Airport, while also being in close
Marathon’s expansion into a strategically important South Mumbai proximity to major educational institutions, including IIM Kozhikode
micro-market with strong infrastructure-led growth potential. and NIT Calicut.
He said the project will provide the company with a visible
presence in Sewri, a location where Marathon has not previously LILAVATI HOSPITAL SET TO LAUNCH SUPER-SPECIALITY
operated. The company plans to expand its footprint across OUTPATIENT FACILITY IN KAZAKHSTAN.
high-potential Mumbai markets through carefully selected Mumbai-headquartered Lilavati Hospital is set to expand its
opportunities while maintaining focus on location, product quality international presence with the launch of a super-speciality
and execution. outpatient department (OPD) facility in Kazakhstan in early
The Sewri project also marks Marathon’s move into cluster September 2026, the hospital said.
redevelopment, complementing its recent entry into society The Trust-run hospital has previously expanded overseas into
redevelopment projects. The company expects these Mauritius and has also strengthened its presence in India with
development models to create additional growth opportunities an expansion into Gujarat. The Kazakhstan facility will be the first
while broadening its presence across Mumbai’s real estate Lilavati healthcare centre outside India to become operational,
landscape. according to the hospital group.
Sewri has emerged as a key residential destination due to improved The new facility is aimed at bringing Lilavati Hospital’s specialist
connectivity following the opening of the Atal Setu, which has consultations, second opinions, advanced treatment planning
strengthened links between South Mumbai, Navi Mumbai and and medical expertise closer to patients across Central Asia.
the wider Mumbai Metropolitan Region. The upcoming Sewri-Worli The centre will offer super-speciality services across a range of
Elevated Connector is expected to further enhance east-west disciplines, including oncology, liver and hepatobiliary care,
connectivity by linking key infrastructure corridors including the kidney and transplantation, cardiac sciences, neurology and
Atal Setu, Coastal Road and Bandra-Worli Sea Link. neurosurgery, IVF and reproductive medicine, gastroenterology,
The area’s waterfront location, connectivity advantages and orthopaedics, urology, endocrinology and diabetes, paediatrics
relatively attractive pricing compared with established South and pulmonology. For complex cases requiring advanced
Mumbai neighbourhoods have increased its appeal among treatment or surgery, patients will be connected with Lilavati
homebuyers and developers. Hospital in Mumbai, the hospital said.
The project will now move into the planning and regulatory The Kazakhstan expansion marks another step in Lilavati Hospital’s
approval phase, with further updates to be shared by the efforts to build an international healthcare network and extend
company as per applicable disclosure requirements. access to specialised medical expertise beyond India.

32 CONSTRUCTION OPPORTUNITIES|JULY 2026