Pursuant to Regulation 30of the SEBI (Listing Obligation and Disclosure Requirements) Regulations,2015 please find enclosed herewith Press Release.
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Meghna Infracon Infrastructure (BSE: 538668) announced the launch and Bhoomi Poojan of a new premium residential project named 'Shree Pranam' located at Model Town, Lokhandwala, Andheri (West), Mumbai on 31st May 2025. The project offers 1 and 2 BHK residences and is a redevelopment project, with a development agreement originally signed on 23rd August 2024. Following changes in government policy, the estimated total sale potential of the project has been revised upward from Rs. 400 Million to over Rs. 600 Million. Construction at the site has already commenced and will be executed as per scheduled timelines. The company described this as a strategic move into the luxury real estate segment in Mumbai.
The 50% upward revision in the project's revenue potential (from Rs. 400M to Rs. 600M) is a positive development for shareholders, reflecting favorable government policy changes and stronger-than-expected sales prospects for this redevelopment project. However, the absolute revenue size remains relatively modest for a listed entity.