WS Industries to develop senior living project in Chennai as Developer
WSI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Board approved a binding tripartite term sheet for WS Industries to develop a senior living and care project at Poonamalee, ORR, Chennai, acting as Developer. Project spans about 4 acres with FSI 3.25 and built-up area of 5,66,280 sq ft. SixP Realty is landowner and Bharathi and Associates is marketing co-developer. Company gets 7.5 percent of topline as fixed return and will arrange working capital facilities secured against project land. Not a related party deal.
New business entry into Chennai senior living segment. Returns tied to project topline, offering upside but adding working capital and execution risk for shareholders.