AGI Infra Ltd enters into development agreement wtih ABS Builders and Promoters LLP

AGI Infra Ltd has entered into a development agreement with M/s ABS Builders & Promoters LLP, Chandigarh who has to develop a project in total 14.9 Acres (72,116 sq. yards).

Out of the total property, about half is owned by M/s ABS Builders & Promoters LLP and the balance by The Working Friends co-operative Housing Society Ltd.

ABS Builders & Promoters LLP has offered the rights to develop FAR measuring 625000 Sq fts in the project being developed by it at Village Sohana, District SAS Nagar (Mohali) in the State of Punjab.

The Consideration of purchase of rights of developing FAR measuring 625000 Sq.ft is Rs.80 Crores.

The proposed development agreement will help the company to expand its business operations outside the city of Jalandhar and entering into new geography in SAS Nagar (Mohali), N ear Chandigarh.

Shares of AGI Infra Limited was last trading in BSE at Rs. 158.95 as compared to the previous close of Rs. 155.4. The total number of shares traded during the day was 31726 in over 125 trades.

The stock hit an intraday high of Rs. 162 and intraday low of 154. The net turnover during the day was Rs. 5021396.

Source : Equity Bulls

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