Spectrum Foods Ltd acquires 4100 Square Yards of resort land in Pushkar, Rajasthan for new planned development

Spectrum Foods Limited, through its subsidiary Siyana Resorts Private Limited, has completed the acquisition of a free-hold, contiguous land parcel ad-measuring approximately 4,100 square yards situated at Tehsil Pushkar, District Ajmer, Rajasthan. The site enjoys panoramic views of the Aravali range and offers convenient access to Pushkar city and ghats.

The consideration has been settled entirely from internal accruals and existing cash balances; no external borrowing or equity dilution has been undertaken for this transaction. The Company proposes to develop a boutique villa enclave on the aforesaid parcel, strengthening its luxury leisure portfolio in Rajasthan. This acquisition is separate from the Company's ongoing flagship 185-room five-star resort in Pushkar, which is in the final stages of construction and is expected to open shortly.

Shares of SPECTRUM FOODS LTD. was last trading in BSE at Rs. 29.06 as compared to the previous close of Rs. 28.26. The total number of shares traded during the day was 66466 in over 161 trades.

The stock hit an intraday high of Rs. 29.90 and intraday low of 28.66. The net turnover during the day was Rs. 1949681.00.

Source : Equity Bulls

Keywords

SPECTRUMFOODS INE547C01018 LandPurchase Resort Pushkar Rajasthan