Joint Venture28 Jan 2026, 08:42 pm
Ironwood Education Ltd Enters Joint Development Agreement with AVA Lifespaces LLP for SRA Project in Mumbai
AI Summary
Ironwood Education Ltd has entered into a Joint Development Agreement with AVA Lifespaces LLP for the joint development of a Slum Rehabilitation Authority (SRA) Project situated at Hanuman Nagar, Vadar Pada, C.T.S. No. 163 A (pt), plot area 1,752.53 Sq.m (village Akurli, Kandivali (East), Mumbai — 400101, R/S Ward, “Naytarun CHS (Prop)”. The Company will pay a refundable Security Deposit of INR 5.50 crore to AVA. Upon completion of the Project and settlement of Project Costs, Net Profits shall be distributed as 70% to IRONWOOD and 30% to AVA. The transaction is at arm's length and promoter/promoter group/group companies are not interested in the transaction, except for a few related party details.
Key Highlights
- Ironwood Education Ltd and AVA Lifespaces LLP entered into a Joint Development Agreement on January 28, 2026
- The agreement is for the joint development of an SRA Project in Mumbai
- The Company will pay a refundable Security Deposit of INR 5.50 crore to AVA
- Upon completion of the Project, Net Profits shall be distributed as 70% to IRONWOOD and 30% to AVA
- The transaction is at arm's length