JSW Steel’s Board has approved forming a joint venture, with its subsidiary Peddar Realty Limited holding a 51% stake. The JV aims to acquire land in Mumbai for developing office and commercial spaces. This move supports JSW Steel’s expansion phase and future office requirements. The joint venture will bid for identified land parcels through a formal tender process, with a proposed investment of up to ₹51 crore.
Joint Venture Formation
The Board of Directors of JSW Steel Limited approved the formation of a joint venture on January 23, 2026. Peddar Realty Limited, a wholly-owned subsidiary of JSW Steel, will hold a 51% stake in the joint venture, alongside JSW Realty Private Limited and other partners. This venture aims to develop land.
Strategic Rationale
The joint venture is intended to participate in bidding for identified land parcels in Mumbai. The project aims to develop office and commercial space. JSW Steel’s expansion phase necessitates additional commercial and office space to meet future requirements. The investment in this project highlights JSW Steel’s focus on strategic growth and infrastructure development.
Financial Details
Peddar Realty Limited (PRL) will invest up to ₹51 crore in the proposed joint venture company. The joint venture will operate in the real estate industry. The acquisition is expected to be completed on or before March 31, 2026, unless extended by the JV partners.
Source: BSE
