Submission of Intimation of execution of lease.
Price
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Awaiting price reaction for this filing.
Novelix Pharmaceuticals (formerly Trimurthi Limited) has signed a 5-year lease deed with Neovantage Innovation Park Private Limited for a 3,890 sq ft laboratory space including land and building at Genome Valley, Hyderabad, effective January 1, 2026. The monthly rent is Rs. 2,72,300 plus taxes, with a 5% annual escalation built in. The space will be used to set up a research and development facility focused on pharmaceutical, biotech research and formulations. The transaction is domestic and not a related-party deal. Total rent commitment over 5 years is roughly Rs. 1.6-1.8 crore (before escalations), depending on tax treatment.
This signals a strategic shift towards building in-house R&D capabilities in the pharma/biotech space, which could be a positive growth signal for shareholders if it leads to new product development. However, for a small company, the recurring lease cost is a meaningful fixed commitment, and the long-term benefit will depend on how effectively the R&D facility translates into revenue-generating products or services.