Investor buys entire 46th floor of Lodha Promina in Worli for ₹163 crore

Investor Mukul Agrawal has bought 20,000 sq ft of office space, the entire 46th floor of the 60-storey Lodha Promina tower in Worli, for ₹163.08 crore. The deal was reported on 10 November 2026. The transaction values the space at roughly ₹81,540 per sq ft, based on the reported total price and area. Lodha Developers Limited is the developer of the commercial project, which is under construction in Mumbai's Worli neighbourhood.

The space was bought as two office units through separate transactions. The purchases were booked in the names of Param Capital and Param Capital Research Pvt, and the two spaces are to be combined for use. The buyer has also bought from Lodha before. In 2023, Param Capital director Asha Mukul Agrawal bought three apartments for around ₹263 crore in Lodha Malabar, the developer's residential tower on Malabar Hill in south Mumbai.

Why small owned office units are in demand

Industry consultants say the deal reflects a shortage of purpose-built, high-specification office units that smaller businesses and family offices can buy. Fatima Zaidi, head of luxury sales at Anarock Property Consultants, said buyers are looking for an address that reflects their business standing, along with easy links to Bandra-Kurla Complex and Nariman Point and to the airport. She added that such spaces are being bought mainly by end-users.

Vedanshu Kedia, director of Prescon Group, said rentals in Worli have moved closer to BKC levels while capital values have not risen to the same extent. Khetsi Barot, managing director of The Guardians Real Estate Advisory, said ownership options inside Grade A commercial developments could become a key differentiator for businesses and investors. Offices of around 3,000 sq ft, sought by family offices, advisory firms and owner-occupiers, remain relatively scarce, according to these commentators.

Market numbers in the corridor

• Grade A office rents in Worli range from ₹456 to ₹661 per sq ft per month on carpet area, against ₹380 to ₹608 in BKC.
• Vacancy in the Worli–Prabhadevi corridor fell to 8% in the first half of 2026. Citywide Mumbai vacancy was 10.8%, its lowest in 16 years.
• Mumbai recorded 5.88 million sq ft of office leasing in the first half of 2026, up 17.8% year on year.

The project sits just off Worli Sea Face, near the Sea Link and the Coastal Road. Metro Line 3 phase two, the 9.6-km BKC–Acharya Atre Chowk stretch, was inaugurated on 9 May 2025. The journey from BKC to Worli now takes just over 15 minutes, with trains running every six minutes and 20 seconds. The proposed Sewri–Worli Elevated Connector, due for completion in early 2027, is expected to improve links to the Atal Setu and Navi Mumbai International Airport.

What investors will watch

Lodha Promina has a MahaRERA registration number, PC1170002501811, and possession is due in December 2031. Lodha has earlier sold office space in Mumbai at Lodha Signet and One Lodha Place, and the company has said it is building a wider commercial office portfolio. Its Gurugram office project, Lodha Pantheon, is planned for sale of office spaces rather than retention for rental income, the company's finance executive director Sushil Kumar Modi has said. Market participants expect demand for the limited supply of smaller saleable office units to stay strong as the 2027 road and link projects near completion. Investors will watch the Sewri–Worli Elevated Connector's completion date and whether Worli rents keep rising against BKC.