Mumbai property development

(Reuters) - London-listed Indian property investment company Hirco plc (HRCO.L: Quote, Profile , Research) said on Thursday that it was investing 128.4 million pounds ($263.5 million) in a mixed-use development in the Panvel area of greater Mumbai. The Isle of Man-registered closed-ended fund said the office and retail project on the 303-acre Panvel site was near a planned airport at Navi Mumbai.