General Disclosure pertaining to execution of Development Agreement entered in-between M/s. B-Right RMBD Realtors Private Limited, a step down subsidiary of the Company and United Commercial ....
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B-Right Realestate's step-down subsidiary, B-Right RMBD Realtors Pvt Ltd, has signed a Development Agreement with UCO Bank Employees' Co-operative Housing Society (Safalya) to restart a long-stalled redevelopment project in Andheri West, Mumbai. The original project, launched in 2015, has been pending for over a decade, leaving 33 families in unsafe conditions. The company has settled claims with previous developers, investors, and existing society members to revive the project. The redevelopment covers approximately 2,260 sq. mtrs. with an estimated gross development value of Rs. 256 crore.
This adds a Rs. 256 crore revenue pipeline to the company's order book and demonstrates execution capability in reviving stalled Mumbai redevelopment projects, which could improve investor confidence. Shareholders should monitor project execution timelines and incremental revenue recognition.