Bhagyanagar India signs land sale and joint development MOU at IDA Uppal

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BHAGYANGR · price

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Price reactionminutes from the announcement price · days from the prior close

+4.9%Reaction day

₹45.60

prior close

₹47.85

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+4.8% vs market

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Reaction day

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Next day

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AI summary

Bhagyanagar India has signed an MOU with Om Sree Builders and Developers for its 20,080 sq yd land at IDA Uppal, Hyderabad. The deal includes outright sale of 7,260 sq yd (1.50 acres) for Rs 60 Crore and joint development of the remaining 12,820 sq yd, where the company will get about 3 lakh sq ft of developed area (30 percent share). Developer is not a related party. Subject to shareholder approval.

Likely market impact

Rs 60 Crore cash inflow plus about 3 lakh sq ft of developed area from a non-operational land asset; subject to shareholder approval.