General Disclosure pertaining to execution of Memorandum of Understanding.
Price
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Awaiting price reaction for this filing.
B-Right Realestate's step-down subsidiary, M/s. Parth Construction, has signed an MOU with M/s. Birch Real Estate Private Limited (part of Embassy Group) to sell FSI/PTC (real estate development rights) covering 7,134.85 square meters. The total deal value is approximately Rs. 117.73 Crores. The transaction is subject to due diligence and standard conditions, with an exclusivity period of two months. Embassy Group is a well-known real estate developer in India, making this a notable counterparty for B-Right Realestate.
This is a positive development for B-Right Realestate shareholders as it unlocks significant value (~Rs. 118 Crores) from the subsidiary's land/development rights through a marquee counterparty. However, since it is only an MOU and still subject to due diligence, the deal is not yet confirmed and execution risk remains until a definitive agreement is signed.