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Emerald Leisures Ltd receives LOI for development of plot at Swastik Park Chembur
Posted On : 2026-04-10 19:38:50( TIMEZONE : IST )
Emerald Leisures Limited has received a Letter of Intent (LOI) dated 10th April, 2026, as in principle approval to the scheme for development on plot bearing C.T.S. No. 366/6 (PT) of village Chembur Taluka Kurla u/reg 33(10) of DCPR 2034 situated at Swastik Park, Chembur, Mumbai 400071 in M(W) ward, with plot area of 6299 sq.mtrs. The project is expected to yield a carpet area of approximately 1,75,000/- sq.ft. with an estimated GDV of INR Rs.600 crores.
Emerald Leisures Limited (BSE: 507265) has been primarily engaged in the business of sports, club and hospitality services through Club Emerald Sports Complex, Chembur, Mumbai. The Company offers a wide range of premium leisure and hospitality services including banquet halls, meetings, sports amenities, rooms and wellness facilities. The Company had decided to diversify into real estate business and has been taking concrete steps to establish the real estate business for past few years.
Speaking about this landmark moment, Mr. Jaydeep Vinod Mehta Director of Emerald Leisures Ltd. said, "We are pleased to receive this "Letter of Intent (LOI)" and with this we achieve a strategic milestone that marks as a stepping stone for the Company in the real estate sector. The envisaged project will have saleable area of approx. 1,75,000sq.ft. and unlock a revenue potential of approx. ₹600 Crores*. He further added that by combining The Group's legacy of trust and execution led excellence we are not just constructing buildings but offering sustainable lifestyle residences with premium amenities. We plan to expand our footprint in the real estate segment rapidly to ensure that 50% of our future growth stems from more such projects in coming years. The Company believes this project will further strengthen the Company's future prospects and lead to long-term value creation.
The upcoming Residential Project is located in the most centrally located suburb of Chembur with best connectivity and will offer options of well designed Vastu compliant 2,3, and 4 BHK Flats.
*On the basis of current business assumptions.
