Balgopal Commercial Enters JDA with Viraj Enterprises
Balgopal Commercial Ltd has entered into a Joint Development Agreement (JDA) with M/s. Viraj Enterprises for a real estate redevelopment project in Juhu, Mumbai, under the Slum Rehabilitation Authority (SRA) Scheme. Balgopal will pay a refundable security deposit of ₹15 Crore to Viraj Enterprises. The revenue sharing ratio is 85:15 between Balgopal and Viraj Enterprises, respectively. The promoter of Balgopal is also a partner in Viraj Enterprises, making it a related party transaction approved by shareholders.
Key Highlights
- Balgopal Commercial enters JDA with Viraj Enterprises for Juhu real estate project.
- Project is under Slum Rehabilitation Authority (SRA) Scheme.
- Balgopal to pay ₹15 Crore refundable security deposit to Viraj Enterprises.
- Revenue sharing ratio is 85:15 between Balgopal and Viraj Enterprises.
- Transaction qualifies as a related party transaction, already approved by shareholders.
Price Impact
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