Balgopal Commercial Limited's subsidiary, Dreamax Realtors, has secured a redevelopment project worth ₹200 crores from Oshiwara Gokul Co-operative Housing Society Limited. The agreement involves the comprehensive redevelopment of land admeasuring 2,531.62 sq meters situated in Jogeshwari (West), Mumbai. The project carries a gross merchandise value (GMV) of approximately ₹200 crores.

Dreamax Realtors, formerly known as Lotus Realtors, executed a Supplemental Development Agreement (SDA) to revise and update a prior Development Agreement dated June 15, 2011. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Project Details

The Developer will undertake the redevelopment of the Society's land located at Adarsh Nagar, New Link Road, Oshiwara. The Company's entitlement of free sale component from the project is presently estimated to be around 51,086 square feet. This estimation is subject to the provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034, and applicable laws.

The project timeline stipulates completion within 42 months, plus a 6-month grace period from the receipt of the Commencement Certificate (C.C.) or Handover Date, whichever is later. The order has been awarded by a domestic entity and does not involve any related party transactions. The key project parameters are outlined below:

The Company confirmed that neither the promoter group nor group companies have any interest in the entity awarding the order. The filing was signed by Ankit Ladha, Company Secretary & Compliance Officer.

Balgopal Commercial Ltd announced that its wholly owned subsidiary, Esquire Real Estate & Bio-infocom Pvt. Ltd, has secured a Letter of Award from the Slum Rehabilitation Authority (SRA), Mumbai for a significant redevelopment project. The project involves the redevelopment of land admeasuring 19,967.36 square meters located at Sion Kokari Agar, Shaikh Mistry Road, Antop Hill, Mumbai-400 037. This development is expected to generate a free sale component of approximately 5.87 lakh square feet, with an estimated Gross Market Value (GMV) of Rs 1200 crores.

The entitlement of the free sale component is subject to the provisions of the Development Control & Promotion Regulations for Greater Mumbai, 2034 and other applicable laws. The approval received from SRA Mumbai is considered to be in the ordinary course of business for the subsidiary. This development enables the subsidiary to proceed further with the proposed project, contingent upon compliance with the conditions specified in the Letter of Award and the receipt of other requisite approvals from the concerned authorities.

Project Details

The disclosure was made to the BSE Limited under Regulation 30 of the Securities Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The filing was signed by Ankit Ladha, Company Secretary & Compliance Officer of balgopal commercial .