Mumbai IT & Telecom Technology Investment Company (MITTIC) was established with the principal purpose of developing a real estate project that will provide business and related social infrastructure for India’s software, IT Services and telecommunication technology industries. The development has an estimated project cost of US$ 882 million of which a private placement for US$ 395 million was launched in November 2007.

MITTIC will comprise of two main components - the Mumbai Software City and the Mumbai Telecoms City. Located on a 300 acre plot in Navi Mumbai, both will be mixed use developments with a focus on high end office / commercial space as well as high quality residential accommodation in an anticipated ratio 30% offices/commercial and 70% residential. The vision of the Project is to create an internationally recognizable unique economic development zone that will offer world class and complete business infrastructure for regional and international companies to contribute effectively in the world IT and telecom industry. Mumbai is India’s financial and trading hub and is in the process of positioning itself as an international financial centre. To competitively position itself as a preferred business destination, Mumbai would need to emphasize on its strong IT and back office support facilities. The Project has support from both the Central and State governments of India which are keen to continue to develop India's IT industry and its business infrastructure.