Lloyds Realty Developers, a subsidiary of Lloyds Enterprises (BOM:512463), has entered into a non-binding memorandum of understanding to acquire a 51% stake in Calculus Logistech for 600 million Indian rupees, according to a BSE filing on Friday.
The pact is aimed at developing a 99-acre land parcel at Taloja in the Navi Mumbai region of India with an additional potential of 32 acres of aggregation.
Under the terms of the MOU, Lloyds Realty will extend up to 2.42 billion Indian rupees as structured secured debt to Calculus Logistech for contiguous land aggregation and regulatory approvals.
The project has a revenue potential of over 12.5 billion Indian rupees over three to four years.
The entire land aggregation is expected to be completed within nine months after the definitive agreements. Following this, the sale or lease of developed plots is targeted within around 24 months post-aggregation.
The company's shares were down nearly 2% in recent trade.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。