According to the terms of the agreement, the company has received an advance amount of Rs 70 crore and the company will get a 30% area outside the total area of the developed property, which will be equal to about 450,000 square feet of RERA carpet area.
This developed sector is estimated to have a mudification price of about 650-Rupa 700 crore rupees over a period of 5-6 years. The company said that the total mudification price would be around 720-RS 770 crore rupees.
“Management intends to mudge its non-core assets and focus on strengthening its core line pipe business and supporting its ongoing and future expansion plans such as entering high-price segments and entering new geography.
The company has gathered assignment work for land parcels located in contrast to the dye Patil Stadium with Paradise Green-Pace LLP along the Paradise Group.
The funds generated from the mudification of property will be used to support the company's expansion plans, increase development and unlock the important value for shareholders.
