Shraddha Prime Projects expands Mumbai portfolio with new land acquisitions

Shraddha Prime Projects Limited has announced the acquisition of development rights for two land parcels in Mumbai and the purchase of an additional land parcel. These acquisitions total an estimated aggregate Gross Development Value (GDV) of INR 1200 crores and aim to expand the company's real estate portfolio.

The company secured development rights in Borivali (East) for a land parcel measuring 3951.80 square meters, projected to yield approximately 2,00,000 sq. ft. of carpet area with an estimated GDV of INR 400 crores. Additionally, development rights were acquired for a 2008.37 square meter land parcel in Dadar (West), expected to yield around 70,000 sq. ft. of carpet area with an estimated GDV of INR 500 crores.

Furthermore, Shraddha Prime Projects purchased a 3,742.80 square meter land parcel in Village Bhandup (Nahur), with an anticipated carpet area of approximately 1,50,000 sq. ft. and an estimated GDV of INR 300 crores. These projects are part of the company's strategy to bolster its presence in the Mumbai real estate market.