Intimation under Reg. 30 Entering into Development Agreement for New Project
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Shraddha Prime Projects Ltd has informed the stock exchanges that it proposes to enter into a Development Agreement with M/s Vedas Corporation, a proprietary concern, for a new real estate project. The project is located at Plot No. 147A in the Dadar-Matunga Estate of the Corporation in Mumbai, bearing C.S. No. 822/10 of Matunga Division. The plot area is approximately 403.01 square metres. The disclosure is being made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. No financial terms or revenue impact of the agreement have been disclosed in this intimation.
This adds a new project to the company's development pipeline in a prime Mumbai location, which could support future revenue, though the size of the plot (~403 sq. mtrs.) appears modest. Shareholders should watch for further disclosures on the project's commercial terms and financial contribution.