Pursuant to Regulation 30 of SEBI (LODR) Regulation, 2015, read with Schedule III thereto, we are pleased to inform you that Emerald Leisures Limited has received a Letter of Intent (LOI) ....
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Emerald Leisures Limited has received a Letter of Intent (LOI) dated 10th April, 2026, for developing a residential redevelopment project under DCPR 2034 at Swastik Park, Chembur, Mumbai. The project has a plot area of 6,299 sq.mtrs and is expected to yield approximately 1,75,000 sq.ft of carpet area with an estimated Gross Development Value (GDV) of INR 600 crores. This marks Emerald Leisures' entry into the real estate sector, as the company has historically been engaged in sports, club, and hospitality services through Club Emerald Sports Complex. The company plans to expand its real estate footprint, targeting 50% of future growth from such projects.
This LOI represents a significant diversification milestone for Emerald Leisures, potentially unlocking INR 600 crores in revenue from its first major real estate project. For shareholders, this signals the company's strategic shift from hospitality into real estate development, which could substantially transform its revenue profile if the project is successfully executed.