Deals19 Jan 2024, 10:32 pm
One 97 Communications Ltd. Awards Joint Development Agreement for IT/ITES Complex
AI Summary
One 97 Communications Ltd. has awarded a Joint Development Agreement to ACE Builders and Promoters Private Limited for the development of an IT/ITES complex on a 10-acre plot in Noida. The company will not incur any capital expenditure on the project, except for fit-out costs on its share at the time of possession. The development is expected to be completed over 6-7 years and the total development cost estimated to be incurred by ACE is INR 750 Cr.,
Key Highlights
- Joint Development Agreement with ACE Builders and Promoters Private Limited for IT/ITES complex
- No capital expenditure on the project
- Total development cost estimated to be INR 750 Cr
- Expected completion over 6-7 years