Hubtown Ltd updates on Chembur Residential Real Estate Project

Joynest Premises Private Limited ("Joynest"), a Subsidiary Company of Hubtown Limited ("the Company"), has made a repayment of debt availed for the development of its luxury residential project in Chembur - "Hubtown Seasons".

The subsidiary has availed the debt in September, 2020 from ECL Finance Limited and Alternate Investment Funds for the development of 5 wings (Wings A, B, C, D and E) in the project.

Operationally, Joynest has progressed well on the construction of the first phase of the project (which consists of 6 wings - being Wings A - F). 2 wings (wing D and wing E) have already received the occupation certificate (OC), while the balance 4 wings' OCs are expected within FY26. The Company has sold more than 82% of the inventory in these 6 wings. Furthermore, the Company is expected to launch one further wing (being Wing G) within FY26.

Shares of Hubtown Limited was last trading in BSE at Rs. 191.85 as compared to the previous close of Rs. 201.70. The total number of shares traded during the day was 15327 in over 695 trades.

The stock hit an intraday high of Rs. 203.65 and intraday low of 191.65. The net turnover during the day was Rs. 2996342.00.

Source : Equity Bulls

Keywords

Hubtown INE703H01016 Realty JoynestPremises DebtRepayment ResidentialProject Chembur HubtownSeasons