The Company has acquired development rights of parcel of land situated at Borivali East as well as land situated at Dadar West and has acquired a land situated at Village Bandup (Nahur), ....
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Shraddha Prime Projects Ltd has acquired three new land/development parcels across Mumbai, together worth an estimated aggregate Gross Development Value (GDV) of INR 1,200 crores. These include a 3,951.80 sq. m. SRA development parcel in Borivali East (approx. 2,00,000 sq. ft. carpet area, GDV ~INR 400 crores), a 2,008.37 sq. m. development rights parcel in Dadar West (approx. 70,000 sq. ft., GDV ~INR 500 crores), and a 3,742.80 sq. m. purchased land parcel in Bhandup (Nahur) (approx. 1,50,000 sq. ft., GDV ~INR 300 crores). The company is a Mumbai-based real estate developer focused on residential, SRA, redevelopment and MHADA projects. Management stated the acquisitions are aligned with its growth strategy and should boost overall company performance.
This is a significant expansion of the company's project pipeline, adding INR 1,200 crores in potential GDV across key Mumbai micro-markets, which could support future revenue and earnings growth. For shareholders, this is a positive capacity-building announcement, though actual realisation will depend on project execution, approvals and market conditions over the coming years.