Enclosed herewith Development right certificate received from Kalyan Dombivali Municipal Corporation, received as consideration against Running account bill of KDMC Road Project.
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Awaiting price reaction for this filing.
Vishvprabha Ventures has received a Development Rights Certificate (DRC) from the Kalyan Dombivli Municipal Corporation (KDMC) covering 80,149 sq meters of Floor Space Index in Village-Dwagli. This was given as consideration (in lieu of cash) against a running account bill raised for the KDMC road construction project (work order dated 18/01/2022 for cement concrete road work). After retaining 5% for the defect liability period, the net saleable area available to the company is 76,142 sq meters, designated as Construction Amenity TDR for residential use. The certificate copy was received on April 25, 2025, and the disclosure was filed on April 26, 2025.
Instead of a cash payment, the company has been compensated with valuable, saleable development rights (TDR) usable for residential construction — this represents a meaningful asset that can either be sold or used by the company, potentially boosting future revenue or margins. For shareholders, this is a positive signal as it monetizes the road project work into a tangible, tradable real estate asset.