In accordance with the provisions of SEBI(LODR) Regulations, 2015, Regulation 30, we are pleased to inform our shareholders that your Company has entered into a lease agreement for an extended ....
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TCM Ltd has signed a long-term lease agreement with Indus Towers Limited for commercial space at its Hi-Lite Building in Maradu, Ernakulam, covering 11,382 sq ft built-up area (10,168 sq ft carpet area). The lease runs for 8 years and 11 months starting 11 April 2025, with a 5-year lock-in period, meaning neither side can exit early. Rent starts at Rs.85 per sq ft per month (years 1-3), rises to Rs.97.75 (years 4-6), and Rs.112.50 (years 7-9), with a Rs.51.86 lakh refundable security deposit. Indus Towers will use the space as its Circle Office. The transaction is domestic, with no related-party connection to TCM's promoters.
This provides TCM with steady, long-term rental income for nearly 9 years from a reputed telecom infrastructure tenant (Indus Towers), improving cash flow visibility. It is a positive but modest real estate monetisation event; the stock may see limited immediate reaction since this is property-related income rather than a core business order.