Satra Properties acquires 100% stake in SPDPL

Satra Properties India Ltd has announced that Satra Property Developers Pvt Ltd (SPDPL), a company in the business of Real estate & Developers and having Paid Up Capital of Rs 14.60 Crores and Reserves & Surplus of Rs 23.50 Crores as on March 31, 2007, is engaged in the execution & development of the following projects :-

Dreams The Mall - Bhandup, Mumbai

Dreams The Mall is located at LBS Marg, Bhandup, Mumbai. It is having a frontage of approx. 1400 feet on LBS Marg and Bhandup station road. It will be one of the Mumbai's Biggest Mall with built up area of approx. 11.05 lacs sq.ft. and plinth area of approx. 2.75 lacs sq.ft.

It is a home for more than 500 shops, anchor admeasuring 1,00,000 Sq ft. (approx) and is proposed to consist of retail mall with 6 screen multiplex food courts, snow park, a park and amusement park and 650 nos of car park at the basement level.

The said project is a joint development between SPDPL & Housing Development & Improvement India Ltd (HDIL).

Satra City - Ghatkoper, Mumbai

The high end luxury residential project admeasuring 8.99 lacs sq.ft (approx) located at LBS Marg, Ghatkopar, combines high end technology, design and aesthetics meet the customer aspirations through superior standards of performance.

It comprises of 6 residential towers of 22 storey each. The location on the hill will add value and aesthetics to the projects and is proposed to have landscaped gardens, swimming pools, gym, as per Singapore standards.

The project will add to the profitability of the Company by generating TDR of 1,11,949 sq. ft(approx).

Satra Central Square - BKC, Mumbai

The project is located 12 kms away from Mumbai Airport, admeasuring 4.55 lacs sq. ft. (approx) and in the heart of Bandra Kurla Complex, Mumbai.

It is the prestigious commercial project comprising of premium office blocks replish with amenities suitable for high end corporate Clients.

The project will add to the profitability of the Company by generating TDR of 1,58,832 sq. ft(approx).

The location is upcoming financial HUB of Mumbai where all the corporate offices of multinational companies are situated.

The acquisition of SPDPL with its robust business and future profitability shell, strengthen the future plans of expansion and growth of the flagship Company "SPIL" in the Real Estate Business. This acquisition is in consonance with the vision of Mr. Praful Satra in making efforts to make the Company, one of the leading Real Estate Enterprise.

Source : Equity Bulls

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