Hubtown Limited has informed the Exchange about General Updates Overview of Project under proposed merging entity 25 West Realty Private Limited into Hubtown Limited.
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Hubtown Limited has shared a detailed overview of a premium real estate project owned by 25 West Realty Private Limited, which is proposed to be amalgamated into Hubtown Limited. The project, located in the Mount Mary area of Bandra West, Mumbai, is an SRA (Slum Rehabilitation Authority) cum society redevelopment project spread across roughly 4.5 acres, with about 2.5 acres of saleable area and a 1-acre garden. It offers around 6 lakh sq ft of carpet area across 4 wings of 4 BHK, 5 BHK and larger configurations, with a minimum ticket size of INR 20 Cr+. The first wing (15 of 34 floors) has RERA registration, and sales and construction have already commenced. The total expected revenue from the project is approximately Rs. 6,000 Cr+.
If the merger is completed, Hubtown will absorb a marquee luxury asset in one of Mumbai's most premium micro-markets, materially boosting its future revenue pipeline. However, the merger is still in the proposed stage and remains subject to shareholder, regulatory and NCLT approvals before it can take effect.