Hubtown Limited — Important, 18-12-2024: Updates

Rare Townships Private Limited, a subsidiary of Hubtown Limited, has executed a Development Management Agreement with Gopani Realty LLP for the development of Wing A-6 (India International Tower) of the "Rising City" project in Ghatkopar, Mumbai. This partnership will facilitate faster completion of the project, with GRL responsible for funding. Meanwhile, Hubtown is independently completing Wings A1-A5, supported by financing from SBI Ventures (SWAMIH Fund) secured in April 2024. With this agreement, Phase I, comprising Buildings A1-A6, is financially closed and on track for delivery beginning FY2026. This development signals a positive outlook for Hubtown’s project timelines and funding strategies.