Lancor Holdings Ltd updates on new projects

Lancor Holdings Ltd has announced the updates of new upcoming projects of the Company:

Pursuant to the signing of the Memorandum of Understanding (Mou), the Company has signed the Joint Development Agreement with the owners for re-development of the building Ananya Ashok at Mylapore into multistoried residential apartment building. The new building will be called Lancor Ananya. The total turnover of the project would be Rs.75 Crores and the cost of the project would be Rs.55.00 Crores. The Company is expected to make Rs.20.00 Crores margin.

The company has successfully signed the Joint Development Agreement with the owners for redevelopment of the building Prof Palanisamy Apartments at Mylapore into multi-storied residential apartment building. The new building will be called Lancor Avighna Residences. The total turnover of the project would be Rs.220 Crores and the cost of the project would be Rs.170.00 Crores. The Company is expected to make Rs.50.00 Crores margin.

The Company has successfully negotiated a property for Joint Development, which is again a redevelopment project at Besant Nagar, Kalakshetra Colony. The total turnover of the project would be Rs.150.00 Crores and the cost of the project would be Rs.135.00 Crores. The Company is expected to make Rs.15.00 Crores margin.

Shares of LANCOR HOLDINGS LTD. was last trading in BSE at Rs. 21.65 as compared to the previous close of Rs. 23.20. The total number of shares traded during the day was 42506 in over 535 trades.

The stock hit an intraday high of Rs. 23.69 and intraday low of 21.34. The net turnover during the day was Rs. 937319.00.

Source : Equity Bulls

Keywords

LANCORHOLDINGS INE572G01025 Realty NewProjects JointDevelopment Redevelopment