Hiranandani Group was founded in 1978 by brothers Niranjan and Surendra Hiranandani, and the business took its defining shape in 1985 when the two acquired 250 acres of quarry land in Powai to build what became Hiranandani Gardens. That project set the template the group has repeated since: large, self-contained townships combining housing, retail, schools, hospitals and commercial space rather than standalone residential blocks. Across more than four decades the group has developed over 2,000 acres of land, delivered upward of 25,000 homes, and built approximately 45.82 million square feet of residential and commercial space. Navi Mumbai is one of the places where this model has been carried forward at scale, principally through Hiranandani Fortune City in Panvel.
Hiranandani Fortune City sits on a 600-acre parcel in Panvel and follows the same integrated-township logic that Hiranandani Group first applied in Powai and later at Hiranandani Estate on Thane's Ghodbunder Road, a 375-acre township, and at Hiranandani Parks along Chennai's OMR. The Panvel township combines residential clusters with clubhouse and lifestyle amenities, and its scale has made it significant enough to host one of the group's most consequential non-residential bets in the region.
In July 2020, Hiranandani Group's wholly owned subsidiary Yotta Infrastructure commissioned Yotta NM1 inside the Hiranandani Fortune City campus in Panvel, describing it at launch as the world's second-largest data centre. The facility spans 820,000 square feet across 16 floors, can house up to 7,200 racks, and draws on 50 MW of power routed through four redundant, self-owned fibre paths to national highways. It is the first of five data centre buildings planned for the Integrated Yotta Data Centre Park at this site, which at full build-out is designed for roughly 30,000 racks and 250 MW of capacity. Group CEO Darshan Hiranandani has described the ambition to eventually run the facility on captive solar and gas-based co-generation power. The choice of Panvel for a Tier IV, Uptime Institute-certified facility of this size is itself a signal: the group committed hyperscale infrastructure capital to Navi Mumbai years before the airport and transit projects that are now reshaping the corridor were complete.
Beyond Fortune City, Hiranandani-branded residential developments extend into established Navi Mumbai nodes. Hiranandani Complex in Kharghar sits close to the Sion-Panvel Highway, giving residents direct access across Navi Mumbai's older, more developed suburbs, while Hiranandani Palace Gardens in New Panvel sits near the Mumbai-Pune National Highway. These smaller-format projects sit alongside the Fortune City township as evidence that the group's Navi Mumbai footprint spans both an anchor mega-township and infill developments in already-settled localities.
Panvel and its neighbouring nodes — Kharghar, Ulwe, Taloja, New Panvel and Karanjade — sit inside the catchment that the Navi Mumbai International Airport (NMIA) has activated since its commercial launch on December 25, 2025, following inauguration in October 2025, with international operations following in mid-2026. Average Navi Mumbai prices climbed roughly 27% over the preceding five years, with airport-proximate pockets such as Ulwe and Panvel showing sharper growth given their position in NMIA's immediate catchment. The Mumbai Trans Harbour Link, running about 21.8 km from Sewri to Chirle, has cut travel time between South Mumbai and Navi Mumbai from roughly two hours to about 20 minutes, and Navi Mumbai Metro Line 1 running Belapur-Taloja-Khandeshwar adds further connectivity through this corridor. Kharghar has recorded year-on-year price growth in the range of 24-27%, among the sharper moves in the region, tied to anticipated metro access. For a developer whose model depends on land banked well ahead of infrastructure completion — as it did in Powai in 1985 and in Thane subsequently — Panvel's transition from a peripheral highway town to an airport-linked, metro-served node is the kind of inflection point the group has built its business around recognising early.
Buying into a Hiranandani-branded address in this part of Navi Mumbai means buying into a group whose calling card is the integrated township rather than a single tower — schools, hospitals, retail and, in Panvel's case, data centre-scale digital infrastructure sitting inside the same footprint. The group's decision to locate a flagship Tier IV data centre park inside Hiranandani Fortune City rather than merely building housing there indicates a longer institutional commitment to the locality than a typical single-project launch would suggest, consistent with how Powai and Thane townships evolved over decades under the same ownership.