IIM Mumbai to expand capacity to 5,000 students with new facilities and courses

The Indian Institute of Management Mumbai, in the next five years, will be a swanky, sprawling one that will host close to 5,000 students as compared to its current capacity of 1,200.

Academic offerings at the postgraduate level will be expanded, and the institute will offer undergraduate courses too.

Infrastructure-wise, an open amphitheatre, student hostels and staff accommodation, a student activity centre, and a swimming pool will be added, apart from a nature trail and other recreational facilities. Development on the 64-acre campus will be concentric circles with the institute’s pond at the centre. 

The Rs 800 crore revamp will draw finances from multiple sources, including Rs 100 crore from IIM-M’s corpus, Rs 200 crore from the Higher Education Financing Agency, and Rs 300 crore will be the viability gap funding.

For phase 3, the institute will reach out to alumni, donors, CSR funds, and large corporate houses.

The original campus of the National Institute of Industrial Engineering was built in 1963. 

The campus will encourage a startup ecosystem through the innovation centre focused on banking, finance, and fintech, an AI-based research hub, and a library connecting students with global resources.

IIM Mumbai also faces the challenge of encroachment of around 800 slum dwellings on 8 acres of its land.

However, the authorities said that the encroached area is not part of the immediate development plan, adding that the decision about its use will be taken during the last phase of redevelopment.