Pyramid Saimira signs MOU with Baderwals Infraprojects

Pyramid Saimira Theatre Ltd has announced that the Company and Baderwals Infraprojects Pvt Ltd to form a SPV for construction of 200 Malls-cum-Multiplexes in 4 years time with an approximate Project Cost of Rs 12000 Crores.

Baderwals to operate 51% in the SPV Baderwals Pyramid Development Pvt Ltd and the Company to hold 49%. The project is to develop 200 State of art integrated Leisure and Shopping destination, primarily across Northern part of India.

The Project will consists of

1. Multiplexes.

2. Budget Hotels (Estimated demand - supply gap of 50000 rooms exists in India).

3. Mall.

4. Hyper Market.

Banderwals is one of the major Land Bank and integrated Real Estate Group in India.

Source : Equity Bulls

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