General intimation pertaining to appointment for the re-development of new business project.
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Awaiting price reaction for this filing.
B-Right Realestate Ltd has been appointed as the developer for the re-development of 'Merry Building Welfare Society' located at Turel Pakhadi Road, Malad (West), Mumbai. The project covers a land area of 1,111 sq. metres and is expected to yield a total saleable area of 33,158 sq. ft. The estimated Gross Development Value (GDV) of the project is Rs. 93.56 crores. The disclosure was made under SEBI Listing Regulations. The company has not provided timelines for execution or expected revenue recognition.
This new redevelopment mandate expands the company's project pipeline with a GDV of ~Rs. 93.56 crore, which could support future revenue and profitability once development begins. However, the near-term stock impact may be limited as no execution timeline or financial projections have been shared.