Intimation on allotment of Land by ''MPIDC'' and Execution of Lease Deed by Material Subsidiary, SAI Machine Tools Private Limited
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SMT Engineering's material subsidiary, Sai Machine Tools Pvt Ltd, has signed a 99-year lease deed with Madhya Pradesh Industrial Development Corporation (MPIDC) for 40,000 sq. mtr. of industrial land in Smart Industrial Township, Sector-7, Indore, starting November 21, 2025. The land will be used to set up a new manufacturing unit for plastic processing and recycling machinery, plastic products and pipes, defence engineering job work, and Special Purpose Machinery (SPM). The company expects an investment of approximately ₹140 crore to establish this unit. Upfront payments to MPIDC include a premium of ₹2.27 crore, development charges of ₹4.42 crore, advance lease rent of ₹4.54 lakh, maintenance charges of ₹3.20 lakh, and a security deposit of ₹13.63 lakh. The agreement is not a related-party transaction and carries no special rights for either side.
This is a significant greenfield expansion commitment by the subsidiary, with ~₹140 crore planned investment that could meaningfully lift the group's manufacturing capacity over the medium term; positive for long-term growth, though execution and funding of this large capex will be key things for investors to track.