With reference to above captioned subject matter, we would like to inform you that the B-right Realestate Ventures LLP (hereinafter "B-right LLP"), a material subsidiary of the company ....
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B-Right Realestate Ltd informed the exchanges that its material subsidiary, B-Right Realestate Ventures LLP, has entered into a 50:50 partnership with Truven Advisory and Management Pvt Ltd (TAMPL). The new joint venture, named B-Right Residencies, will undertake negotiations and development of a private SRA (Slum Rehabilitation Authority) project at Kachpada, Malad (West), Mumbai. The partnership's main object is property development on the said SRA society's land. The disclosure was filed under Regulation 30 of SEBI Listing Regulations.
The 50:50 JV adds a new real estate development opportunity to the company's pipeline while sharing costs and risks with a partner, which could support future revenue if the Malad project materialises successfully.