On Tuesday, the crime branch produced the accused before a metropolitan magistrate court at the end of his previous custody.
Police sought his further remand on the grounds that they need to confront the accused with additional material that have come to light in connection with the case.
Calling the probe “very complex and extensive in nature”, police said more time was required for a thorough investigation against the accused.
Accepting the police’s argument, the court on Wednesday extended the custody of Shinde till Thursday.
As many as 17 people, including a former general manager of Mumbai airport ATC and his wife, were killed and over 70 injured in the hoarding collapse. Bhinde has been booked on the charge of culpable homicide not amounting to murder under section 304 of the Indian Penal Code.