IIM Mumbai to Expand Capacity to 5,000 Students with New Facilities and Courses

MUMBAI: 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 new design, said Shashi Kiran Shetty, chairman of the institute’s board of governors, “will be a net zero carbon campus where generations of students to come will appreciate its planning and design and say, there are no gaps in the way the campus has come up.”
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. “The campus will host a management training centre, offer certification courses, and serve as a focal point for industry leaders. The vision for the institute is that companies will turn to IIM Mumbai to source talent and upgrade their teams’ skill sets regularly,” said institute director Manoj Kumar Tiwari, who was addressing the press after the institute’s 1st foundation day.

Tiwari said that the existing dormitories for students will give way to new hostels with a capacity for 1,250 male and 1,250 female students. A new accommodation facility will be constructed for over 200 teachers, while 128 apartments will be built for non-teaching staff.
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.

Key Milestones for IIM Mumbai's Transformation
Aug 2023: Several years and many proposals later, the Centre in July 2023 approved the conversion of NITIE, a management institute only for engineers in Powai, to IIM Mumbai, an MBA-awarding institution open for all. Both houses of the Parliament gave their nod to the IIM (Amendment) 2023 bill and NITIE was converted to IIM Mumbai in Aug 2023.
2024: The first batch of students joining IIM Mumbai will see an almost equal gender balance on campus. In fact, rather interestingly, the flagship MBA programme at IIM Mumbai has more females than men. The MBA class of 2026 has 186 ladies and 138 men out of the total 324 seats.