The company has completed registration of conveyance deed for 75% of land situated at Kanjurmarg, Mumbai in favor of M/s. R Siddhatva Developers Private Limited, a step-down subsidiary of M/s. Runwal Construction Private Limited.
Consideration of ₹143 crores has already been received for the 75% land portion.
For the remaining 25% of land, the agreement for sale has been registered in favor of the same entity.
Conveyance deed for the remaining 25% will be executed upon receipt of 1,00,000 square feet of commercial RERA carpet area along with 8,500 square feet additional space in the basement.
Financial Impact
The company expects to realize revenue of approximately ₹250 crores from the sale of commercial space.
