Annoucement under Regulation 30 of SEBI LODR
ARIHANT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Canopy Living LLP, a joint venture between Arihant Foundations & Housing and Prestige Estates Projects, has signed an Agreement to Sell with Sundaram-Clayton Limited to buy 16.381 acres of freehold land at Korattur Village, Ambattur Taluk, Chennai. The total deal value is around Rs. 560.67 Crores, with an advance of Rs. 25 Crores already paid and the balance of Rs. 535.67 Crores due on sale deed execution. The transaction is expected to close on or before 11th February 2026, subject to conditions precedent. The seller is a listed company and is not part of Arihant's promoter or group entities, and the deal is not a related party transaction. The land is expected to be used for a real estate development project in Chennai.
This is a sizable land bank addition in the Chennai market through a high-profile JV with Prestige Estates, which could translate into future residential or mixed-use project revenue. For shareholders, it signals active expansion by Arihant's JV, though execution and project timelines will be the key things to watch over the next 12-18 months.