Texmaco Infrastructure & Holdings Limited — Important, 30-01-2025: Agreements

Texmaco Infrastructure & Holdings Ltd. has entered into a Development Agreement with Oro Bloom Developments Private Ltd. for the development of 9.56 acres of land located at GT Kamal Road, Kamla Nagar, Delhi. This strategic partnership aims to transform the former Birla Mills Compound into a mixed-use project that will incorporate residential, commercial, and community service components.

Under the agreement, the Developer will undertake project construction, marketing, and sales at its expense while providing a refundable security deposit of ₹200 Cr in two tranches, refundable over five years post-occupancy certification. The Company will retain 44% of base revenues and shares in incremental revenues along with additional income streams. The Developer’s promoters have committed an investment of ₹375 Cr, indicating strong confidence in the project's profitability.

This partnership signifies a positive outlook for Texmaco, presenting potential growth opportunities in property development, while investors should monitor revenue-sharing dynamics and market performance closely.