Execution of Term sheet which is entered in between B-Right Realestate Ventures LLP, subsidiary of the Company and Sagar Developers for development of SRA project.
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B-Right Realestate's wholly-owned subsidiary B-Right Realestate Ventures LLP has executed a term sheet with Sagar Developers to jointly develop an SRA (Slum Rehabilitation Authority) project on government land at Gilbert Hill, Andheri West, Mumbai. The site spans 9,130 sq. metres and is expected to yield about 2,44,509 sq. ft. of total saleable area. The project carries an estimated Gross Development Value (GDV) of Rs. 430 crores. Sagar Developers holds the existing development rights for the plot. The filing was made under Regulation 30 of SEBI LODR and does not disclose the company's share of revenue or profit from the deal.
This expands B-Right Realestate's development pipeline with a sizeable Mumbai SRA project worth Rs. 430 crores in GDV, potentially boosting future revenues and asset base for shareholders, though execution risk and profit-share economics remain to be detailed.