Stock Report

Co-developer status for Xenosoft Technologies (India) Private Limited

Posted On : 2021-12-01 15:50:27( TIMEZONE : IST )

XTGlobal Infotech Limited (BSE Scrip code: 531225), a growing information technology, Product Engineering, Cloud based and Robotic process automation Company, today announced that XTGlobal's wholly owned subsidiary i.e. M/s. Xenosoft Technologies (India) Private Limited has obtained approval for Co-developer status for its SEZ Unit situated at Plot No 19, Hill No 3, Madhurawada IT/ITES SEZ, Visakhapatnam.

Pursuant to regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we wish to inform you that M/s. Xenosoft Technologies (India) Private Limited, a wholly owned subsidiary of XTGlobal Infotech Limited has obtained approval from Ministry of Commerce and Industry Department of Commerce (SEZ Section) for Co-developer status for undertaking infrastructural facilities, leasing of office space in office building already constructed with a total area of 3,10,000 sft. and built up area of 1,60,000 Sft situated at Plot No 19, Hill No 3, Madhurawada IT/ITES SEZ, Visakhapatnam for the authorized operations in accordance with the codeveloper's agreement entered into with the developer M/s. APIIC Limited subject to standard terms and conditions as per the SEZ Act. The company is waiting for receipt of formal letter of approval from the Authorities of Visakhapatnam Special Economic Zone.

Accordingly, Xenosoft Technologies (India) Private Limited is going to get permission soon to lease out its unutilized office space to some other units for their operations in accordance with the executed co-developer's agreement. This approval will enable Xenosoft to explore options to generate nonoperational leasing revenue of up to 3.50 crores per annum for the group.

Shares of Xtglobal Infotech Ltd was last trading in BSE at Rs. 29.45 as compared to the previous close of Rs. 30.95. The total number of shares traded during the day was 45338 in over 261 trades.

The stock hit an intraday high of Rs. 30.85 and intraday low of 29.45. The net turnover during the day was Rs. 1348320.00.