Parsvnath Developers Ltd enters into JDA with Akshaya Signature Homes Pvt Ltd

Parsvnath Developers Limited ("the Company") has entered into a Joint Development Agreement ("JDA") with Akshaya Signature Homes Private Limited ('the Developer') for development of residential plotted colony ("Project") on land admeasuring 7.90 acres (approximately) situated at Old Mahabalipuram Road, Chennai (in Chengelpet District, formerly Chengelpet Taluk, Kancheepuram District) ("Project Land").

The aforesaid land has been acquired by the Company from Sumeru Soft Private Limited vide registered Sale Deed dated November 2, 2021.

The proposed Project to be developed on the Project Land shall be in the form of a layout consisting of plots of different sizes.

The Developer, at its own cost and arrangements, shall obtain the requisite approvals, licenses, permissions from the concerned departments / authorities, for the development of the Project on the Project land.

The Revenue generated from the sale of the saleable plots in the Project shall be shared between the Company and the Developer in the ratio of 55:45.

Shares of Parsvnath Developers Limited was last trading in BSE at Rs. 16.22 as compared to the previous close of Rs. 15.91. The total number of shares traded during the day was 49883 in over 175 trades.

The stock hit an intraday high of Rs. 16.60 and intraday low of 15.91. The net turnover during the day was Rs. 810104.00.

Source : Equity Bulls

Keywords

ParsvnathDevelopersLimited INE561H01026 Realty JDA AkshayaSignatureHomes PlottedColony OMR Chennai