Modern India Limited [MIL], (erstwhile Modern Mills Ltd.) was incorporated in the year 1933 under the management of the Sirur family. In the year 1979, the controlling interest was acquired by Jatia’s and since then it has been in their fold. Under the stewardship of Mr. Vijay Kumar Jatia, CMD, Modern India Ltd, the company has become a well-entrenched conglomerate growing from strength to strength.

MIL is into various business verticals inter alia Real Estate and Infrastructure Development, offering Business Centre facilities, Power Generation, Background Verification, Commodities Trading, International procurement solutions and services and Vocational Training amongst others.

It has developed the landmark Belvedere Court, a 40-storied residential complex at Mahalaxmi, Mumbai - 400011 with modern amenities.

At the time of completion this was one of the tallest residential buildings in India.

This  building  height  is  149  meters  and  has  all  the amenities   like  swimming  pool,  Jacuzzi,  Gym.,  Tennis Court, stilt parking,  podium and ample open area for children play.
    
Modern India Limited has also Refurbished Mill premises into business Centre having built up area of 150,000 sq. feet with all the modern amenities and   ample parking space.   Business  Centre  is located  near  to  railway  station  of  western  and central  lines  of  suburban  railways  and  in   the middle of central business district of Mumbai viz., Nariman Point and Bandra Kurla Complex.

It’s clientele consisted of MNC’s, Banks, Financial Services Companies and BPO’s.

Currently Business Centre premises is being vacated and MIL in collaboration with K Raheja Corp. Pvt. Limited a well known Developer having interests in Residential, Commercial, and Hospitality Development would developing in excess of 4Lac Sq. Ft. Built up area at Mahalaxmi, Mumbai 400 011.

Simultaneous to above development, it would be undertaking development of other land parcels in South Mumbai over a period of next five years.

MIL has also entered into a Joint Development of about 25 Acre Land Area, at Boisar, Maharashtra, for affordable housing development, having built up area in excess of 10 Lac Sq. Ft.;

Another Vertical a subsidiary of the MIL, viz., Verifacts Services Private Limited a Bangalore head quartered Company having branches at Mumbai, Pune, Gurgoan, Kolkata, Chennai and Hyderabad. If offers background verification amongst other solutions to corporate and other entities, having marquee clientele including top notch software developers, IT companies, BPO Companies, Electronics giants and Embassies etc., and many others.

MIL is setting up a 5 MW Solar Power Project at Satara, Maharashtra, at a CAPEX OF Rs.340 million, involving latest technology and state of art paraphernalia. This project is expected to up and running by the end of Calendar Year 2014;

MIL’s wholly owned subsidiary namely MODERN INTERNATIONAL ASIA LIMITED [MIAL], incorporated in HONG KONG, is engaged in the business of international trading in the form of sourcing commodities for and on behalf of various Industries outsourcing from overseas manufacturers, meeting quality, quantity and various other parameters from China and elsewhere. 

During FY 2012-13, MIL achieved consolidated revenue of Indian Rs.4262 million and profit before tax of ~ Indian Rupees68 million. 

MIL has a unit named India Institute of Jewelery [IIJ], engaged in vocational training in Jewelery design, manufacture and marketing. It has tie up with University of Mumbai [MU] for post graduate course in Gems and Jewelery at and in the technical collaboration with Garware Institute of Career Education and Development a division of MU. Under this arrangement, the MU has included in its syllabus and in suitable promotional material information mentioning that the course is being conducted in collaboration with the IIJ. As per prescribed syllabus, the IIJ is conducting theory classes and practical work in technical subjects at its institute at Mahalaxmi as per accepted standards set by the MU.

Shares of the company are listed on The Stock Exchange of Bombay since 1958 and present market capitalization is about Indian Rs.1.5billion. 

 

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