Cinevista Limited has informed the Exchange about Agreements
CINEVISTA · price
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Awaiting price reaction for this filing.
Cinevista Limited informed the exchanges about the progress of its Joint Development Agreement (JDA) with K. Raheja Corp Real Estate Pvt Ltd for the 'Antares' residential-cum-retail project at Kanjurmarg, Mumbai. Under the JDA, Cinevista is entitled to 24.5% of the project's total revenue, split 60:40 between revenue and space sharing. The project, which commenced in late November 2024, has now received total carpet area sanctions of 3,19,575 sq ft (2,84,976 sq ft residential + 34,599 sq ft retail) with all requisite premiums paid. Cinevista's share under the JDA is 70,101 sq ft residential and 8,870 sq ft retail. Construction is reportedly progressing rapidly with positive booking response, and the RERA completion deadline is set for November 2029.
This is a routine progress update on an existing JDA rather than a new contract. The advancing sanctions, strong bookings response, and partnership with a top-10 developer (K. Raheja Corp) are mildly positive for Cinevista's long-term revenue stream from its 24.5% share, but no immediate material impact on stock price is expected from this disclosure.