Navi Mumbai International Airport Pvt. Ltd. (NMIAL) achieved financial closure for the project on March 29, 2022. Of the total project cost of ₹19,647 crore for Phases 1 and 2, ₹12,770 crore has been sanctioned by SBI (₹15,981 crore by NMIAL and ₹3,665 crore by CIDCO).
CIDCO has also completed all pre-development works including 5.5-meter land filling across 1,160 hectares, diversion of the Ulwe River, and shifting of high-tension power lines.
On October 11, 2024, the Indian Air Force’s transport aircraft C-295 conducted the inaugural landing on the runway, followed by two low passes by SU-30s. On December 29, 2024, IndiGo Airlines' Airbus A320 successfully performed the airport’s first commercial landing.
As of June 30, 2025, the airport project has achieved 96.5% physical progress. Around 13,000 workers are currently deployed at the site. To complete the remaining work on time, more manpower will be deployed, and all agencies have been instructed to finish the remaining work before September under any circumstance.
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