Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation 2015 and other applicable provision, we hereby inform ....
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Alfavision Overseas has signed amended land lease agreements with seven promoter-related entities (including M/s Bhagwan Farms Pvt Ltd, Alfa Valley Infra Pvt Ltd, and Mr. V P Goyal) covering roughly 194.63 acres of land in Village Saras, Tehsil Icchawar, District Sehore, Madhya Pradesh. The lease term is 5 years each, with total lease deposits of around Rs. 91.34 crore. The amendment allows the leased land to now be used for resort development, real estate development, recreation, and allied commercial purposes, signalling a diversification beyond the company's existing business. Profits from these leased properties will be shared 60:40 between the company and the lessors (promoter entities).
This is a related-party transaction with the company's own promoters, which may raise governance concerns for minority shareholders since 40% of profits from the land will flow back to promoter entities. On the positive side, it paves the way for expansion into hospitality and real estate, but execution risk and the related-party nature warrant close scrutiny by retail investors.