General Updates as attached
Awaiting price reaction for this filing.
Fedders Electric and Engineering has informed the exchanges that it has developed commercial rental space totaling 500,000 square feet across Uttar Pradesh. This includes 300,000 sq ft in Noida, split evenly between warehouse (150,000 sq ft) and IT services (150,000 sq ft), and an additional 200,000 sq ft in Sikandrabad, Bulandshahr for warehouse use. The company clarified that lease deeds for renting out this space are yet to be executed. The filing was made under SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulation 30.
This points to a new recurring revenue stream from rentals once leases are signed, but since no lease deeds have been executed yet, there is no immediate income impact. Shareholders should watch for follow-up announcements on tenants and lease terms to gauge actual earnings contribution.