Shraddha Prime Projects Ltd announces acquisition of land and Development Rights for new projects

Shraddha Prime Projects Limited (Formerly Towa Sokki Limited) has announced the acquisition of Development rights and purchase of land for various projects to be announced:

1. "Shraddha Prime Projects Limited" has acquired development rights of parcel of land situated in Borivali (East) earmarked for development under the SRA development Scheme at Village Dahisar Taluka Borivali Mumbai, bearing C.T.S. Nos. 2400/A & 2400/A/1, 2400/B/9 & 2400/B/10 total Land admeasuring 3951.80 square meters. The project is expected to yield a carpet area of approximately 2,00,000 sq. ft., with an estimated GDV of INR 400 crores.

2. "Shraddha Prime Projects Limited" has acquired development rights of parcel of land situated at Dadar (West), Mumbai - 400028 bearing C.T.S. Nos. 1/A/1218,Final plot no 880,TPS-IV total Land admeasuring 2008.37 square meters. The project is expected to yield a carpet area of approximately 70,000 sq. ft., with an estimated GDV of INR 500 crores.

3. "Shraddha Prime Projects Limited" has purchased a parcel of land situated at Village Bhandup (Nahur), Mumbai - 400078 bearing C.T.S. Nos. 365A (PART) total land admeasuring 3,742.80 square meters. The project is expected to yield a carpet area of approximately 1,50,000 sq. ft. with an estimated GDV of INR 300 crores.

Commenting on the new Land acquisitions, Mr. Sudhir B. Mehta, Managing Director said, "We are pleased to announce the acquisition of Development rights land parcel in various areas that aligns perfectly with our vision of creating superior properties that cater to modern living standards. This development exemplifies our commitment to excellence and our dedication to client satisfaction. As we expand our development portfolio across key areas of Mumbai, we are confident that this project will boost the company's overall performance and yield an estimated aggregate GDV of INR. 1200 Crores with an offer of exceptional living experiences to our residents".

Shares of Shraddha Prime Projects LTD. was last trading in BSE at Rs. 250.75 as compared to the previous close of Rs. 238.40. The total number of shares traded during the day was 78521 in over 650 trades.

The stock hit an intraday high of Rs. 258.90 and intraday low of 230.00. The net turnover during the day was Rs. 19084246.00.

Source : Equity Bulls

Keywords

ShraddhaPrimeProjects INE311M01018 Acquisition DevelopmentRights Land