NICDIT Zaheerabad Industrial Smart City Limited Incorporated as Project SPV

What was decided

NICDIT ZAHEERABAD INDUSTRIAL SMART CITY LIMITED was registered on 14-02-2025, with Corporate Identification Number U42101TS2025SGC194013, according to Ministry of Corporate Affairs (MCA) records. It is classified as a Non-government company and is registered under the Registrar of Companies, RoC-Hyderabad. The Special Purpose Vehicle was incorporated with equity contribution from the National Industrial Corridor Development and Implementation Trust (NICDIT) and Telangana Industrial Infrastructure Corporation Limited (TGIIC) for development of the Zaheerabad Industrial Area in Telangana.

The new Zaheerabad Industrial Area (ZIA) is managed by this SPV, in which the Centre's NICDIT holds 49 per cent equity while TGIIC owns 51 per cent. The company has an authorised share capital of INR 5,00,00,000, with INR 1,00,000 paid-up capital. Its registered/corporate office is at 5-9-58/B, 6th floor, Basheerbagh, Parishram Bhawan, Hyderabad, Telangana 500004.

Which body authorised this, and when

The SPV incorporation implements a prior Central approval. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved a project to establish an Industrial Smart City at Zaheerabad in Sangareddy district as part of 12 Industrial Smart Cities under the National Industrial Corridor Development Programme (NICDP), with an estimated investment of Rs 28,602 crore. The 3,245-acre industrial smart city, approved by the Centre as part of that programme, will be developed under the overall master plan of the erstwhile Zaheerabad NIMZ at a cost of Rs 2,369.82 crore, by a special purpose vehicle in which Telangana holds 51% and the Government of India the rest.

The project, first conceived as a National Investment and Manufacturing Zone, was later incorporated into the Hyderabad-Nagpur Industrial Corridor for funding under NICDIT, and the NICDIT board approved the proposal in the year preceding the SPV's registration. Company filings show the registration itself was executed via the MCA/RoC-Hyderabad process, formally creating the legal entity that now holds and deploys the equity approved at Cabinet and NICDIT-board level.

Operative details: land, cost, and boundaries

The Zaheerabad Industrial Node under the Hyderabad-Nagpur Industrial Corridor is spread across 17 villages of Nyalkal and Jharasangam mandals of Sangareddy district; the overall project area (Phase 1 and 2) measures approximately 12,500 acres, of which a Phase-I activation area of 3,245 acres is proposed under the NICDIT framework for a project cost of Rs 2,361 crore.

Phase I of the development spans 3,245 acres in Sangareddy district, with 1,900 acres earmarked for industrial use and 650 acres allocated for green zones; the remaining land supports residential, commercial, and logistics infrastructure. TGIIC holds a 51 percent equity stake worth ₹620.96 crore, while NICDIT contributes 49 percent, valued at ₹596 crore, with the balance met through SPV debt financing.

As of the most recent land-status update, 91% of the land is under state possession, with acquisition underway for the remaining 284.48 acres. The state government has already allotted large industrial plots within the project area: Vem Technologies received 511 acres, while Hyundai was allotted 408 acres.

Practical effect: what the SPV does next

The company created on 14 February 2025 is the legal and financial vehicle that will contract, borrow, and execute infrastructure works for ZIA — it does not itself decide land use or cabinet-level funding, but implements those decisions. Within months of incorporation, it began procurement activity. NICDIT Zaheerabad Industrial Smart City Ltd. invited an RFQ-cum-RFP from interested bidders for a Programme Manager for New Cities (PMNC) for infrastructure development of the Zaheerabad Industrial Area under the HNIC project. Submissions were due at the TGIIC office on or before 3:00 PM (IST), 30/06/2025.

Officials stated tenders for infrastructure work were expected to be finalized by October (2025), with project completion targeted within 18 months of commencement. Prime Minister Narendra Modi laid the foundation stone for the project, taken up at an estimated cost of Rs 2,360.54 crore, on 10 May 2026. Officials said the project has investment potential of more than Rs 10,000 crore, generating 1.74 lakh jobs by 2029.

Corporate structure at a glance