Execution of Joint Venture Agreement with Ayyappa Developers Private Limited (Shreenathji Group) for Development of project.
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B-Right Realestate Ltd has signed a Joint Venture Agreement with Ayyappa Developers Private Limited, part of the Shreenathji Group, to develop the Celestial Heights Phase II project on S.V. Road, Malad (West), Mumbai. The project is a luxury residential development offering 4 BHK and 5 BHK flats, located near Jain Temple and Malad Railway Station. The expected Gross Development Value (GDV) of the project is Rs. 70 Crores. The disclosure was made under SEBI Listing Regulations to the BSE.
This JV expands B-Right Realestate's development pipeline with a Rs. 70 Crore luxury project in a well-connected Mumbai location, which could boost future revenue. For shareholders, this signals active business growth, though near-term stock impact will depend on execution and contribution to financials.