Hiranandani Developers co-founders and brothers Niranjan Hiranandani and Surendra Hiranandani have divided some of the joint real estate projects in Mumbai Metropolitan Region (MMR).
As per the settlement between the two brothers, Niranjan Hiranandani will own 250-acre township in Powai, while Surendra Hiranandani has received 350-acre township project in Thane, they added.
Niranjan Hiranandani confirmed the division and said it was done amicably.
Hiranandani Developers was formed in 1978 by the two brothers and it has constructed many projects in the past four decades mainly in Maharashtra.
Niranjan and Surendra Hiranandani are also running separate real estate companies and developing projects but they continued to own many real estate projects and properties jointly.
While Niranjan Hiranandani is founder chairman and managing director of Hiranandani Communities, Surendra Hiranandani is chairman and director of House of Hiranandani, which has projects in Bengaluru and other cities as well.
House of Hiranandani group declined to comment.
Niranjan Hiranandani-led group has around 2,000 acres of land bank across major cities for development of housing, commercial, data centre and warehousing projects.
Niranjan Hiranandani’s son Darshan is heading the company’s data centre firm Yotta Infrastructure and also a energy company.
It recently made a foray into the technology-led consumer services business with an initial investment of Rs 1,000 crore.
The new venture — Tez Platforms — will focus on opportunities in the arena of social media, entertainment, gaming and e-sports, e-commerce, personal mobility, artificial intelligence and blockchain-linked solutions.