Shraddha Prime Projects recorded bookings of approximately ₹60 crore on the launch day of its new development, 'Pandora by Shraddha', in Nahur West, Mumbai. The company sold 110 units out of a total inventory of 471 units, marking a strong initial response for the mixed-use project.

The development is a 22-storey structure offering a mix of residential and commercial spaces. The residential component focuses on compact 1 RK and studio apartments, targeting specific housing needs within Mumbai's established residential markets. The project carries an estimated gross development value (GDV) of approximately ₹220 crore.

Project metrics and booking response

The launch performance highlights a significant conversion rate on the first day, with nearly one-quarter of the total inventory secured. The table below summarizes the key figures disclosed in the press release:

Sudhir Mehta, Managing Director of the company, stated that the booking of 110 units reflects homebuyer interest and serves as an encouraging start. He emphasized the company's focus on construction quality and timely execution as it takes the project forward.

What the numbers show

The launch-day bookings of ₹60 crore represent approximately 27% of the project's estimated GDV of ₹220 crore. This indicates that the initial sales momentum captured more than a quarter of the total potential revenue value in a single day. The average booking value per unit on the launch day was roughly ₹54.5 lakh, derived from the total booking value divided by the number of units sold, suggesting a concentration of demand in the compact housing segment offered by the project.

Shraddha Prime Projects issued a press release detailing its proposed rights issue of ₹96.96 crore. The capital raise aims to strengthen financial flexibility and support the next phase of growth for the Mumbai-based real estate developer.

The Board meeting held on October 1, 2026, approved the terms, fixing the price at ₹160 per equity share. The company will offer 60,60,150 partly paid-up equity shares to existing shareholders. Eligible shareholders will receive three new equity shares for every twenty existing shares held. The record date for determining eligibility is fixed as October 15, 2026.

Rights issue structure and payment schedule

The issue size is set at ₹96,96,24,000. The price includes a premium of ₹150 per share on the face value of ₹10. The payment schedule is structured in two tranches:

• Application amount: ₹144 per share (including premium of ₹135), representing 90% of the issue price.
• Subsequent call: ₹16 per share (including premium of ₹15), representing the remaining 10% of the issue price.

The Board appointed GYR Capital Advisors Private Limited as the Merchant Banker for the rights issue, replacing Almondz Financial Services Limited.

Use of proceeds and management commentary

In its press release dated October 6, 2026, Shraddha Prime stated that the proceeds will primarily support working capital requirements. This funding aims to maintain adequate liquidity as the company progresses ongoing developments and executes against its expanding project pipeline.

Sudhir Balu Mehta, Managing Director, said the issue is an important step towards strengthening financial flexibility. He noted that with a growing portfolio of ongoing and upcoming projects, the rights issue will enable the company to further strengthen execution capabilities and pursue opportunities aligned with its long-term growth strategy.

Regulatory compliance and next steps

The proposed rights issue remains subject to fulfilling all post-issue requirements. Shraddha Prime must comply with statutory, legal, and listing formalities stipulated by the Securities and Exchange Board of India (SEBI) and the exchange. The company submitted this intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key details of the approval and meeting

The Managing Director signed the letter dated October 1, 2026, confirming the approval of these matters. The company has requested the exchanges to take the information on record.