Kretto Syscon (BOM:531328) has entered into a joint venture agreement with B-Devasya Designs & Buildcon to develop an affordable residential-cum-commercial real estate project at Ahmedabad in Gujarat, India, according to a Thursday filing to the Indian stock exchanges.
The total project cost is estimated at 250 million Indian rupees, of which the company's investment share is seen as 50 million rupees.
The total revenue from the project is estimated at 480 million rupees, and it is expected to be completed in aroud five years.
The company's shares were up nearly 5% in recent trade.
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