Stock Report

Modis Navnirman Ltd begins construction with Bhoomi Poojan of 200+ Unit Residential Project 'Rashmi Icon' in Malad, Mumbai

Posted On : 2026-02-09 19:45:38( TIMEZONE : IST )

Modis Navnirman Limited, one of Mumbai's rapidly growing real estate developers, marked a key milestone with the successful Bhoomi Poojan ceremony of its upcoming residential and commercial project, Rashmi Icon, located at Shankar Gully, Orlem, Malad (West). This ceremony signifies the formal commencement of construction on what is set to become a modern lifestyle landmark in the neighbourhood.

Rashmi Icon is a thoughtfully planned mixed-use development located on a plot area of 4,744.40 sq. mtrs., featuring three residential wings with around 201 contemporary homes, 17 commercial shops, podium parking, and a dedicated amenities floor. The project is designed to offer a balanced blend of comfort and convenience, with modern lifestyle amenities, recreational spaces, and fitness facilities aimed at enhancing overall community living.

Speaking on the occasion, Mr. Mahek Modi, Whole-Time Director & Chief Financial Officer, Modis Navnirman Limited, said: "Rashmi Icon reflects our commitment to building future-ready urban communities. While the Bhoomi Poojan marks an important ceremonial beginning, our true focus lies in delivering well- designed homes, strong construction quality, and meaningful amenities that add long-term value to residents and the surrounding neighbourhood."

Rashmi Icon strengthens Modis Navnirman Limited's growing portfolio of residential developments in Mumbai and reinforces the company's mission to create modern, community-focused spaces built with quality and integrity.

Project Insights:

Website: www.rashmiicon.com

Portfolio Page: www.modisnirman.com/portfolio/rashmi-icon/

Shares of Modis Navnirman Limited was last trading in BSE at Rs. 330.60 as compared to the previous close of Rs. 396.70. The total number of shares traded during the day was 495 in over 39 trades.

The stock hit an intraday high of Rs. 395.95 and intraday low of 330.60. The net turnover during the day was Rs. 167575.00.