Core Announcement – Order Details
Awarding Entity: Aligarh Development Authority, Government of Uttar Pradesh
Domestic/International Order: Domestic
Nature of Order/Contract:
Development of Prime ADA's Land Near Soot Mill Circle, Baroula Jafrabad, Aligarh, Uttar Pradesh through Land Monetization Framework under a Joint Development Agreement (JDA) on a Revenue Sharing Basis. Total land area is approximately 25,091 Sq. Mtrs.
Order Value:
Minimum Guaranteed Revenue (MGR) of ₹90.00 Crore (Rupees Ninety Crore Only) payable to Aligarh Development Authority. The Special Purpose Vehicle (SPV) shall pay either the MGR or the revenue share based on quoted percentage, whichever is higher.
Materiality Context:
Project awarded under Public Private Partnership (PPP) Model. Joint Venture between Bootes Infrastructure Limited and Univastu India Limited formed specifically for this project, with Univastu holding 49% share.
Execution Timeline:
Concession Period of 96 months, including construction, sales and operation & maintenance period as per Joint Development Agreement terms.
Revenue Recognition / Billing Structure:
Revenue Sharing PPP Model where revenue share payable to Aligarh Development Authority shall be determined according to bid submitted by selected developer and JDA terms.
Key Terms & Payment Milestones:
- Performance Bank Guarantee of ₹5.00 Crore (Rupees Five Crore Only) required prior to JDA execution
- Unconditional and irrevocable guarantee in favor of Aligarh Development Authority
- Security for due performance of obligations under the Project
- Payment schedule prescribed under Joint Development Agreement
Whether Related Party Transaction: No
Promoter Group Involvement: Not Applicable
Financial Implication:
Not Specified beyond the Minimum Guaranteed Revenue commitment and performance guarantee requirements.