Cinevista Limited has informed the Exchange regarding Board meeting held on Jun 12, 2025.
CINEVISTA · price
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Cinevista Limited's Board met on June 12, 2025, to review progress on its Joint Development Agreement (JDA) with K. Raheja Corp Real Estate Pvt Ltd for the 'Raheja Antares' residential-cum-retail project at Kanjurmarg, Mumbai. Under the JDA, K. Raheja Corp is funding and executing construction, while Cinevista will receive 24.5% of total revenue through built-up area, retail spaces, and revenue share. The project has secured carpet area sanctions of 3,19,575 sq ft in total (2,84,976 sq ft residential across Towers A & B, plus 34,599 sq ft retail/commercial), with Cinevista's share being 70,101 sq ft residential and 8,870 sq ft commercial. Construction began in late November 2024, the project is reportedly receiving strong bookings from both end-users and investors, and the expected completion date is November 2029 as filed with RERA.
For shareholders, this confirms steady regulatory and construction progress on Cinevista's most valuable real estate asset, with all key premiums paid up to date. The 24.5% revenue share plus space allocation represents a long-term value unlock from the Kanjurmarg land bank, though cash flows are back-ended given the 2029 completion timeline.