Brands
Mumbai’s iconic 97-year-old Parle-G factory gets clearance for commercial redevelopment
MUMBAI: Mumbai’s industrial past is being dismantled brick by brick—and replaced with glass, steel and balance sheets.
The iconic Parle-G biscuit factory in Vile Parle East, where India’s best-known FMCG brand was born, has received clearance for redevelopment into a large commercial complex, marking another milestone in the city’s relentless conversion of legacy industrial land into real estate gold.
The redevelopment plans were first submitted to the Municipal Corporation of Greater Mumbai in mid-2025, followed by applications for environmental approvals, according to a Hindustan Times report.
The Parle Products land parcel spans 5.44 hectares (13.45 acres) and will be redeveloped with a total built-up area of 1,90,360.52 sq m. Of this, 1,21,698.09 sq m falls under Floor Space Index (FSI), while 68,662.43 sq m is classified as non-FSI construction. The estimated project cost stands at Rs 3,961.39 crore.
The proposed commercial project will comprise four buildings, each with two basement levels. The A-wing of the first three buildings will rise to six floors. In Building 1, the B-wing will include retail and office spaces on the first, seventh and eighth floors, while floors two to six are designated for parking. The complex is expected to house retail outlets, restaurants and food courts.
The Parle redevelopment is the latest chapter in Mumbai’s sweeping reinvention of its industrial landscape. From shuttered textile mills in Central Mumbai to former factories in the suburbs, land that once powered Bombay’s manufacturing economy is now being monetised to fuel a services-led future.
The transformation began in the 1990s with the decline of the textile industry and accelerated after changes in development control regulations unlocked vast mill lands in areas such as Lower Parel, Worli, Mahalaxmi and Prabhadevi. Landmark redevelopments at Phoenix Mills, Kamala Mills, Bombay Dyeing Mills and others reshaped the city’s skyline, blending luxury housing, offices, malls and hotels. High Street Phoenix emerged as a template for mixed-use urban regeneration.
The shift has since spread beyond textiles. Across Andheri, Kurla, Goregaon and Mulund, old biscuit factories, engineering units and warehouses have been converted into IT parks, co-working hubs and residential projects, mirroring Mumbai’s broader move away from manufacturing.
More land is waiting in the wings. Railway land, Mumbai Port Trust parcels along the eastern waterfront, and salt pan tracts in the suburbs are expected to unlock the next wave of large-scale redevelopment over the coming decade.
As infrastructure improves in satellite cities around Mumbai, industries are steadily moving out, freeing up prime urban land for redevelopment. The logic is simple: cheaper land outside, richer returns inside.
Mumbai, it seems, is no longer baking biscuits. It is baking balance sheets—and the oven is still hot.
Brands
Burda Media sells BurdaLuxury to Jaipur Capital in Southeast Asia push
Deal hands regional media portfolio to Singapore investor eyeing luxury growth
MUMBAI: Burda Media has agreed to sell its Southeast Asia-focused business, BurdaLuxury, to Jaipur Capital, marking a strategic shift for both companies as they double down on their respective growth priorities.
The deal will see Jaipur Capital acquire BurdaLuxury’s media operations across Thailand, India, Singapore, Malaysia and Hong Kong. The portfolio spans content marketing and media brands in travel, luxury and aviation, giving the investor a ready-made regional footprint and a sizeable audience base.
Jaipur Capital plans to build on this foundation to create a premium media network in Southeast Asia, blending high-end editorial with scalable digital platforms. As part of the transaction, all BurdaLuxury employees, including its management team, will move to the new owner, ensuring continuity as the business enters its next phase.
For Burda Media, the sale is part of a broader strategy to sharpen its focus on core European markets while scaling investments in digital-first opportunities. The company will, however, maintain its interest in the region through Burda Principal Investments, its global growth capital arm.
“This transaction reflects our commitment to sharpening our international focus while ensuring that BurdaLuxury continues to thrive in Southeast Asia,” said Burda Media CEO Jan Wachtel, adding that Jaipur Capital recognises the strength of the brands and teams involved.
Jaipur Capital, meanwhile, is betting big on the region’s appetite for premium content. “This acquisition significantly strengthens our premium content ecosystem,” said Jaipur Capital director Vikas Johari. He highlighted the business’s strong digital tilt, with 46 per cent of revenues coming from online channels, alongside a diversified presence across five markets.
The numbers tell a compelling story. BurdaLuxury clocks 48 million annual page views and reaches more than 40 million followers on social media, with no single market contributing over a quarter of total revenues. Jaipur Capital now aims to expand these brands further into Indonesia, Vietnam and the Philippines, while also exploring opportunities in the Middle East, including the UAE and Saudi Arabia.
With this deal, Burda Media trims its global footprint to focus on depth over breadth, while Jaipur Capital steps onto a bigger stage in the premium content space. If execution matches ambition, this could be a defining chapter for luxury media in the region.
