Justo Realfintech Limited, a Mumbai-based company, has been penalized by the Registrar of Companies for violating Section 42(10) of the Companies Act, 2013. The violation pertains to the company's failure to maintain private placement application money in a separate bank account, as required by law.

Penalty Details

The company disclosed the following details regarding the penalty:

The directors named in the penalty order are:

• Pushpamitra Das
• Vishal Vasantrao Kokadwar
• Chirag Prasanna Mehta
• Priyesh Dineshchandra Chheda

Impact on Company Operations

Despite the penalty, Justo Realfintech Limited has stated that there is no material impact on its financial operations or business activities. The company characterized the non-compliance as a procedural/technical issue from a past period, emphasizing that it does not affect the day-to-day business or performance of the company.

Regulatory Compliance

This incident highlights the importance of strict adherence to regulatory requirements, particularly in financial matters such as private placements. Companies must ensure that they maintain separate bank accounts for application money received during private placements to comply with Section 42(10) of the Companies Act, 2013.

The penalty serves as a reminder for all listed entities to maintain rigorous compliance with regulatory standards to avoid similar sanctions and maintain investor trust.

Conclusion

While Justo Realfintech Limited faces this regulatory setback, the company's assertion of no material impact on its operations suggests that it views this as a minor issue. However, the incident underscores the need for vigilance in regulatory compliance, especially for companies in the financial sector.

Investors and stakeholders will likely monitor the company's future compliance practices closely to ensure that such violations do not recur.

Justo Realfintech Limited, a prominent player in India's real estate mandate sector, has announced a significant expansion of its business portfolio. The company has secured new sales mandates worth over ₹1,545 crore, pushing its total portfolio value beyond the ₹4,500 crore mark.

New Mandate Details

The newly acquired mandates span across multiple residential and commercial projects in Pune and Mumbai, covering a total of 1,385 units. These projects represent a cumulative area of approximately 13,29,373 square feet. The estimated Gross Development Value (GDV) of these new mandates exceeds ₹1,545 crore.

Project Overview

These projects are strategically located in high-demand micro-markets of Pune and Mumbai, offering a mix of premium residential and mixed-use developments.

Comprehensive Services

Justo Realfintech's mandate includes end-to-end go-to-market execution for these projects. This encompasses:

• Launch strategy
• Pricing
• Tranche releases
• Digital demand generation
• Channel-partner distribution
• On-site experience management
• Booking operations via Justo's proprietary technology platform

The company will also facilitate buyer financing through bank/NBFC tie-ups and provide real-time inventory visibility and CRM workflow orchestration to optimize sales velocity and realization.

Financial Implications

These new mandates are expected to generate an estimated revenue potential of ₹39 crore to ₹43 crore for Justo Realfintech, assuming a success ratio of 75% to 85%. This expansion represents a growth rate of over 50% in the company's mandate portfolio.

Market Position

With this addition, Justo Realfintech's cumulative mandate portfolio has now surpassed ₹4,500 crore. The company's success continues to be anchored in its core strength of repeat business and deep client trust.

Puspamitra Das, Chairman & Managing Director of Justo Realfintech Limited, commented on the development: "The addition of these projects takes our cumulative mandate portfolio to over ₹4,500 crore, reflecting both momentum and market confidence. We are witnessing a phase of aggressive growth driven by strategic wins, repeat developer engagements, and strong on-ground execution."

It's important to note that Justo Realfintech acts solely as a sales and marketing mandate partner and is not the promoter or developer of these projects. The company's role is to leverage its expertise in real estate sales and marketing to drive the success of these developments.

As Justo Realfintech continues to expand its portfolio and strengthen its market position, investors and industry observers will be keen to watch how this growth translates into financial performance in the coming quarters.