Please find herewith attached Public announcement regarding strategic Joint venture Announcement
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Kretto Syscon Ltd has entered into a Joint Venture Agreement with M/s B-Devasya Designs & Buildcon Private Limited to develop an affordable residential-cum-commercial real estate project on Manipur Road, Ghuma, Ahmedabad. The total estimated project cost is ₹250 Millions, with Kretto investing ₹50 Millions and the partner funding the balance. The project spans about 43,000 sq. ft. across 8 floors (G+7) and is expected to generate ₹480 Millions in projected revenue over a 4–5 year timeline. The project targets 1 & 2 BHK affordable homes (sub-₹40L ticket size) for salaried buyers and PMAY-eligible families, with ground-floor retail outlets for rental income. Profit-sharing will be in proportion to each party's investment, and the sale deed execution is expected shortly, followed by RERA and statutory approvals.
This is a capital deployment of ₹50 Millions into real estate that could yield ~₹480 Millions in revenue over 4–5 years, potentially diversifying Kretto's earnings base. However, the project carries execution and regulatory risks, and benefits will only materialize over the long term — limited immediate impact on the stock is expected.