General intimation pertaining to execution of term sheet which is entered in between B-Right Realestate Ventures LLP, subsidiary of the Company and BS Lifespaces Infra LLP.
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B-Right Realestate Ltd's subsidiary, B-Right Realestate Ventures LLP, has signed a term sheet with BS LifeSpaces Infra LLP for re-developing a privately owned society plot at CTS No. 2252 to 2254, Village Kirol, Ghatkopar (West), Mumbai. The project involves constructing a commercial building on a land area of 1,249.20 sq. metres. The project is expected to yield a total saleable area of around 59,526.45 sq. ft. with an estimated Gross Development Value (GDV) of Rs. 171.63 crores. The disclosure is made under Regulation 30 of SEBI LODR Regulations, 2015.
This is a positive development for shareholders as it expands the company's project pipeline with a Rs. 171.63 crore commercial redevelopment project, potentially adding to future revenue and profitability. The partnership structure (subsidiary-led JV) limits direct balance sheet exposure while still allowing the company to benefit from the project.