Saboo Sodium Chloro Ltd acquires Prime Resort Land in Jawai, Rajasthan, announces 120 Room Luxury 5 Star Resort Project

Saboo Sodium Chloro Limited (SSCL, the “Company") is pleased to announce the acquisition of approximately 40,000 Square Meters of land in Jawai, Rajasthan - a leading wildlife tourism destination, renowned for leopard conservation. The acquired parcel is adjacent to Aaramgah Jawai Resort & Spa, a member of Radisson Individuals Retreats. The cost of land acquisition was approximately ₹3.5Cr, and the same was financed via the Company's internal accruals and balances.

Samskara Jawai Leopard Reserve - Launch in 18-24 Months:

SSCL is pleased to announce a luxury resort project of 120 rooms at the Company's newly acquired land - to be named 'Samskara Jawai Leopard Reserve'. The property will be the largest 5-star hotel in Jawai and one of the largest in Pali District, Rajasthan. Construction is expected to commence by Q2 FY25-26. The resort's features shall include:

- Pool villas and luxury hotel suites
- Leopard safaris and excursions
- Full-service spa and gymnasium
- Banqueting and conferencing facilities
- Multi-cuisine restaurant and bar
- Infinity main-pool and family entertainment

The Company has also applied for financial benefits offered by the Government of Rajasthan under RIPS 2024 and 'Rising Rajasthan' for Samskara Jawai Leopard Reserve, and is expected to receive approval for the following incentives:

- Capital Subsidy: Up to 20% of the Eligible Fixed Capital Investment (EFCI), disbursed over ten years.

- Exemptions: 100% exemption from stamp duty, conversion charges, and electricity duty for seven years.

- Additional Boosters: Thrust Sector and Regional Anchor Boosters, offering an additional 10%-20% subsidy.

The total subsidy savings for the Company over the time period of 10 years is estimated to exceed ₹15 crore, significantly enhancing the financial viability and competitiveness of this project. The resort is expected to generate quality employment for 150 people in Jawai and surrounding rural areas of Pali District.

The Company is committed to updating stakeholders as per stipulated requirements, and will continue sharing developments on the project. Discussions with leading architects and contractors are ongoing - the same are expected to fructify in the coming weeks. Documents for approval by the local authorities for commencement of construction have been submitted.

Shares of SABOO SODIUM CHLORO LTD. was last trading in BSE at Rs. 19.41 as compared to the previous close of Rs. 18.53. The total number of shares traded during the day was 153410 in over 236 trades.

The stock hit an intraday high of Rs. 19.60 and intraday low of 18.50. The net turnover during the day was Rs. 2933936.00.

Source : Equity Bulls

Keywords

SABOOSODIUMCHLORO INE440C01016 LandAcquisition ResortLand Jawai Rajasthan 5StarResort