Hiranandani has received two bids worth USD 900 million-USD 1 billion for its property in Powai, reports Nayantara Rai of CNBC-TV18, quoting sources. The real estate gaint is said to sell 4.5 million square feet of commercial property in Mumbai's suburban neighbourhood. Bids came from an Indian PE firm and a Canadian firm, she added. Amidst all this, Hiranandani brothers will begin the process of recasting their ownership to sell Powai property. The move to sell property is part of the company's plans to convert itself into a private limited company from a partnership firm. CNBC-TV18 tried to reach out to Niranjan Hiranandani, but he declined to comment on the development.
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