PNN
Mumbai (Maharashtra) [India], October 19: Mumbai-based Bharat Agri Fert & Realty Ltd is planning to launch soft booking of "WEMBLEY" G-59 floors residential project at Shiv Sai Paradise, Phase II, Majiwada, Thane on auspicious day 24" October, 2023 - DUSSEHRA. Looking the response and enquiries coming for the project, company is expecting to get huge response of booking on DUSSEHRA.
The Company has received the Sanction of Development, Commencement Certificate, Chief Fire Officer permission from Thane Municipal Corporation, MoEF permission and Civil Aviation permission etc. for the construction project "WEMBLEY" G-59 floors, Shiv Sai Paradise, Phase II, Majiwada having 2/3 BHK residential flats with all amenities & facilities. All the RERA compliances have been done by uploading sanctions and permissions along with amendments from time to time.
The Company is targeting to complete entire project within 3-4 years with estimated revenue of Rs.700-800 Crores. Management is planning to utilize these surplus funds partly for upgradation & modernization of SSP/GSSP plant with capacity of 132000 tons per year and partly for expansion of ANCHAVIYO Resort by developing 125 theme based luxurious rooms as destination wedding along with infrastructure facilities to make ANCHAVIYO Resort a brand image in Palghar district, Maharashtra.
In view of the above, the company will be fully utilising their available potential FSI at Majiwada, Thane Phase II Residential Tower, which will have 2/3 BHK luxurious or sophisticated flats with all modern amenities and facilities to cater to the local residential market by offering 400 number of flats at affordable/reasonable rates.
On successful completion of this project company will be Debt free and will increase their expansion project at ANCHAVIYO RESORT along with higher capacity utilization of SSP Phosphatic Fertiliser Business at Wada, Palghar. At Anchviyo Resort, company has added 12 rooms and installed solar system which will help it save electricity cost of approx. Rs. 1 crore per annum.
The company has renewed SSP fertilizer marketing tie up with SPIC (Greenstar Fertilizers Ltd) for 25000 M.T for the year 2023-24 and also in the process of marketing tie up with Indian Potash Ltd for 30000 M.T in addition to 15000 M.T SSP sales through company's own marketing network and expects revenue of Rs. 80-85 Crore subject to renewal of NBS policy of Department of Fertilizer (DOF). The management has also signed Settlement MOU on February 24, 2023 and received Rs.9 crore as repayment of entire loan amount from Mol Chem Ltd (Associate Concern).
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