TCM Ltd signs binding MoU for real estate JV villa project in Ernakulam

Marquee Jv AnnouncedStrategic Transactions View source PDF Explain this filing

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AI summary

TCM Limited has entered a binding MoU with Mr. Suhas Nandan (investor) and Asset Homes Private Limited (developer) to form a joint venture SPV named ASSET TCM ESTATES PVT LTD for a premium residential villa project at Kalamassery, Ernakulam, Kerala. TCM will contribute 250 cents of land as the landowning partner. The investor will bring Rs. 25 crore as a working capital loan carrying 20 percent interest per annum. Asset Homes will handle design, approvals, construction, branding and marketing. The parties are unrelated to the promoter group.

Likely market impact

Brings in Rs. 25 crore funding and a reputed developer to monetise TCM's land parcel, though venture size is modest for the listed entity.