Date: 29th July, 2026
Project Update
Valor Estate Limited provided an update on the Letter of Award received from the Government of Goa (Department of Public Private Partnership) dated 18th March, 2026 for development of an International Convention Centre, Convention Hotel and associated downstream facilities at Dona Paula, Goa on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.
Special Purpose Vehicle Incorporation
The project shall be implemented through Blue Crest Properties Private Limited, a wholly owned subsidiary of the Company, incorporated as the special purpose vehicle for undertaking the project.
Performance Bank Guarantee
The SPV has deposited a Performance Bank Guarantee of ₹57,90,00,000/- (Rupees Fifty-Seven Crore Ninety Lakh Only) with the Authority, in accordance with the terms of the Letter of Award.
Concession Agreement Execution
The SPV executed the Concession Agreement with the Director, Department of Public Private Partnership, Government of Goa, on 28th July, 2026 for the development of the aforesaid project.
Agreement Terms
With the execution of the Concession Agreement, the detailed rights and obligations of the parties, including development timelines, revenue rights, concession terms and other project parameters, shall be governed by the Concession Agreement, read with the Letter of Award.
Project Significance
The project is material in nature and is expected to create significant long-term value for the Company and its shareholders.
Not Specified Sections
No material disclosures under the following sections: Financial Results, Dividend Declaration, KMP/Board Changes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication