B-Right Real Estate Limited 's step-down subsidiary, B-Right RMBD Developers LLP, has entered into a Memorandum of Understanding for the development of Viswas Niwas 8 and Viswas Niwas 9 in Parel. The project, bearing CS No.187/74 and CS No.186/74, targets a Gross Development Value (GDV) of Rs 179 Crores, marking a significant expansion in the company's development pipeline. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Details

The site is located in Village Parel and spans a land area of 1,081.95 Sq. Mtr., with an expected total sales area of 45,760 Sq. Ft. The following table outlines the key metrics for the proposed development:

The agreement involves B-Right RMBD Developers LLP acting as the executing entity for this project under the broader B-Right Real Estate group structure.

B-Right RealEstate Limited’s step-down subsidiary Parth Construction has entered into an agreement with Keystone Realtors Limited for the sale of FSI and PTC. The transaction, valued at Rs 143.45 crore, involves the sale of 176 units spanning 8,800.74 sq. meters. This move is part of the company's strategy to realize value from its ongoing SRA redevelopment projects.

The assets sold are part of the Ambika Nagar project, a landmark SRA redevelopment initiative located in Jogeshwari East. The project is strategically positioned within 500 meters of the Western Express Highway and spans over 10,223 sq. mtrs. It focuses on providing affordable housing units and is expected to be completed by March 2028.

The Ambika Nagar project has demonstrated strong market performance, achieving pre-sales of approximately Rs 506.73 crore to date. Phase 1 of the project is already sold out, indicating robust demand for the housing units offered. The sales momentum highlights the project's appeal and supports its continued growth trajectory.

B-Right RealEstate Limited is a Mumbai-based social real estate development company concentrating on redevelopment, SRA, and urban transformation projects. The company has established a presence across key Mumbai micro-markets through a diversified portfolio supported by strong execution capabilities and prudent capital allocation.