Project: Redevelopment of "Nirmal Apartment" comprising 300 High Income Group (HIG) residential units and 18 commercial shops
Client: Gujarat Housing Board (GHB)
Project Value: Approximately ₹142.73 Crore
Business Model: Public-Private Partnership (PPP) basis
Original Award Date: 27 October 2023 via Letter of Award
Consideration Structure: Company was entitled to realization amount from additionally constructed 580 housing units and 6 commercial shops as consideration
Cancellation Details
Cancellation Date: 27 August 2026
Intimation Time: 11:38 a.m. on 27 August 2026
Effect: Reduction in order book position by ₹142.73 Crore (the total development cost)
Financial Implications
EMD Status: Bank EMD furnished by the Company to GHB will be returned
Order Book Impact: Direct reduction of ₹142.73 Crore from company's order book
