IIM Mumbai campus set to undergo $800-crore transformation
3 months, 2 weeks ago

IIM Mumbai campus set to undergo $800-crore transformation

Hindustan Times  

Mumbai: The Indian Institute of Management Mumbai is planning a comprehensive campus development project, at an estimated cost of ₹800 crore. HT Image Announced during the institute’s first foundation day celebrations, the development will be carried out in three phases, with an aim to convert its 64-acre campus in Powai into a modern educational hub. “Existing student hostels will be replaced with new accommodations for 1,250 male and 1,250 female students, while a new faculty housing complex will be built to accommodate over 200 teachers,” said Manoj Kumar Tiwari, director, IIM Mumbai. “The next ₹100 crore will be drawn from IIM Mumbai’s balance funds, while ₹200 crore will be raised through the Higher Education Financing Agency. Additionally, ₹300 crore will be applied for under the Government of India’s Viability Gap Funding scheme.” Shashi Kiran Shetty, chairman of the institute’s board of governance, expressed confidence in the support the project will receive from companies through their Corporate Social Responsibility funds.

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