In continuation of outocome of Board Meeting dated 19th March, 2025 wrt MOU between La tim Metal & Industries and Eltria Lands LLP, we wish to inform that parties have now entering into ....
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La Tim Metal & Industries, along with its promoters, has entered into a development agreement with Eltria Lands LLP to build a gated community of residential plots on 49.42 acres of land located in Village Hedavali-Asre, Taluka Sudhagad, Dist. Raigad, near the Khopoli-Pali Road (recently upgraded to a national highway). This formalises the MOU originally approved by the Board on 19th March 2025, with the first phase covering roughly 150 acres. Eltria Lands will handle layout plans, approvals, execution, marketing, and sales, while the project targets completion within 3 years from initial approvals. Net revenue from plot sales will be split 75:25 in favour of the developer, and the company expects around Rs 70 crore in sale proceeds from the first phase.
This marks a meaningful diversification of La Tim Metal's revenue stream into real estate, leveraging its owned land bank in a high-growth corridor near the upcoming Navi Mumbai International Airport. The Rs 70 crore expected revenue from phase one could positively impact the company's financial trajectory, though dilution of owner share (only 25%) and a 3-year timeline mean cash flows are back-ended.