India, June 26 -- Pune-based Mantra Group has acquired a stalled real estate project in Mumbai's Worli with an estimated development potential of Rs.2,000 crore.

The acquisition was made through the corporate insolvency resolution process initiated under the National Company Law Tribunal (NCLT).

The company said its subsidiary, Siddhi Raj Developers, has taken over the project, which had remained stalled for more than a decade and was entangled in litigation with landowners. The previous developer had also sold a number of units to homebuyers before the project halted.

"It is a privilege for Mantra Group to take forward this prestigious project in Worli. Having successfully delivered numerous developments in Pune, we are excited to exp...