Shraddha Prime Projects Ltd updates on Shraddha Pavillion at Kanjurmarg East

Shraddha Prime Projects Limited is constructing two towers in central suburbs - Kanjurmarg East, having carpet area for sale about 53,000 square feet with a potential to generate revenue of Rs 100 crores in next 2 years. Shraddha Prime Projects Limited is redeveloping residential project - "SHRADDHA PAVILLION" in one of the developing areas in Kanjurmarg East - Mumbai.

Commenting on this development, Mr. Sudhir B. Mehta, Managing Director said, "We already have past experience in Kanjurmarg East and are well aware about the demographics of the area. This project was launched by us in this financial year and construction is in process. The proximity to Eastern Express Highway, JVLR, Mulund and Eastern Freeway makes it an important junction in Mumbai. This is a redevelopment project and we are constructing two towers. This redevelopment project sprawls on a land parcel of 2943 sq. mtrs."

The project is named as "SHRADDHA PAVILLION" and Commencement Certificate is already received and construction for both towers of is underway. The company has already purchased TDR amounting to Rs 7.7 crores and the loading of the FSI is under process. Plinth is getting constructed on both the towers. This landmark project has the potential to develop 53,000 square feet of sale area and is expected to generate potential revenues of over Rs 100 crores in the coming 2 years. Sales have already commenced for the project. This is yet another feather in the cap for Shraddha Prime Projects Ltd and the Company would thrive to achieve more and add value for all its stakeholders."

Shares of Shraddha Prime Projects LTD. was last trading in BSE at Rs. 79.56 as compared to the previous close of Rs. 83.74. The total number of shares traded during the day was 40763 in over 140 trades.

The stock hit an intraday high of Rs. 82.00 and intraday low of 79.56. The net turnover during the day was Rs. 3258721.00.

Source : Equity Bulls

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