Please find enclosed press release under Regulation 30(LODR)
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Meghna Infracon Infrastructure has signed a development agreement to redevelop a residential project of about 31,000 sq. ft. construction area at Dadar/Prabhadevi in South Mumbai. The project is expected to generate revenue of around Rs. 800 million (Rs. 80 crore) and is slated to launch in calendar year 2025. The company describes this as a sea-facing and city-facing luxury residential development in a well-connected micro-market near Shivaji Park. This marks the group's first entry into Dadar/Prabhadevi, expanding beyond its existing presence in Goregaon and Andheri in Western Mumbai.
This new project expands the company's footprint into a premium South Mumbai micro-market and adds a meaningful new revenue stream. For shareholders, this could support future topline growth, though execution risk and launch timeline in CY 2025 will be key things to watch.