The Binding Tripartite Term Sheet will be executed by the Company, the Landowner and the Marketing Co-Developer on or after 27th July, 2026.

Key Project Details

  • Project Type: Senior living / senior care residential project
  • Location: Poonamalee, Outer Ring Road (ORR), Chennai, Tamil Nadu
  • Land Area: Approximately 4.00 acres
  • Development: Phased development
  • FSI/FAR: Indicative FSI/FAR of 3.25
  • Built-up Area: Indicative permissible built-up area of approximately 5,66,280 sq. ft.
  • Statutory Status: Subject to applicable statutory approvals

Roles and Responsibilities

  • Company Role: Acts as Developer responsible for end-to-end development and execution of the Project
  • Landowner Role: Provides Project Land for development and makes it available as security/collateral for Working Capital facilities
  • Marketing Co-Developer Role: Undertakes branding, marketing and sales activities and other responsibilities as agreed between parties

Commercial Arrangements

  • Company Return: Entitled to a Fixed Return equivalent to 7.5% of the Topline actually realised from the Project
  • Marketing Co-Developer Compensation: Entitled to a Fixed Fee equivalent to 15% of the Topline, inclusive of sales and marketing expenditure
  • Return Conditions: Subject to terms and conditions of the Binding Tripartite Term Sheet and definitive agreement to be executed

Funding Arrangements

The Board approved the proposal for the Company to apply for, raise and arrange Working Capital facilities required for the development and execution of the Project.

Security Structure:

  • Primary security: Against the Project Land owned by the Landowner
  • Additional security (where required by lenders): Current assets and other assets of the Project including receivables, inventory, stocks, book debts and other movable and/or current assets, whether existing or created/acquired out of or in connection with such Working Capital facilities
  • Security Instruments: Hypothecation, assignment, charge or other appropriate security interest
  • Approval Status: Subject to sanction by concerned lender(s) and applicable approvals

Additional Agreement Details

  • Related Party Transaction: No
  • Binding Nature: The Term Sheet is legally binding and enforceable upon the Parties in accordance with its terms
  • Future Agreements: Contemplates execution of a detailed Tripartite Joint Venture / Development Agreement or other definitive agreement between the Parties
  • Guarantees/Indemnities: Company has not undertaken any obligation towards the Landowner's Assured Return or any shortfall; any guarantee/indemnity would be specifically set out in definitive agreement
  • Termination/Amendment: Not applicable as of the disclosure date

Expected Impact

The proposed arrangement is expected to enable the Company to expand its development activities into the senior living / senior care segment. The Company will undertake the development and execution of the Project and shall be entitled to a Fixed Return equivalent to 7.5% of the Topline actually realised from the Project.

Meeting Details

  • Board Meeting Date: 27th July, 2026
  • Commencement Time: 17.35 Hrs
  • Conclusion Time: 17.45 Hrs