Nesco shares surged by 4% following the receipt of the Intimation of Disapproval (IOD) from Brihanmumbai Municipal Corporation (BMC) for its ambitious Tower 2 project at the Nesco Center, Goregaon (East), Mumbai. This state-of-the-art development will span 5.01 million square feet and is set to become one of the most prominent commercial hubs in the region.
The centerpiece of the project is a 1.65 million square feet IT Park, designed to provide premium office spaces equipped with modern workspaces, sustainability features, and top-tier amenities. The park aims to become a key business destination, expected to directly employ around 24,500 professionals upon completion.
In addition to the IT Park, Tower 2 will feature a 732-room luxury hotel, including 172 serviced apartments. The hotel, set to be one of the largest in India, will cater to both corporate travelers and large-scale events, offering world-class hospitality, banquet facilities, and premium dining options.
Designed by the globally renowned architectural firm Aedas, the project is scheduled to break ground in Q3 FY 2025-26, with an estimated construction timeline of 48 months. Nesco is committed to sustainability, ensuring that the development adheres to green building practices and focuses on energy efficiency.
Nesco Ltd. opened at ₹926.95 and reached a high of ₹953.10 during trading today, while its low was ₹924.35. The stock’s 52-week high stands at ₹1,081.90, with the 52-week low recorded at ₹780.00.
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