Valor Estate Limited — Important, 14-11-2024: Agreements

Goan Hotels & Realty Private Limited, a wholly-owned subsidiary of Valor Estate Limited, along with Horizontal Ventures Pvt. Ltd., has agreed to convey a portion of land measuring 22,135 sq. mtrs. in Thane to Prestige Estate Projects Ltd. for a total consideration of ₹262.42 crore. This transaction, which includes a revenue share of ₹20.17 crore from Man Vastucon LLP, has facilitated the complete redemption of Non-Convertible Debentures (NCDs) amounting to ₹234.68 crore. As a result, the company has achieved a standalone secured debt level of ₹0 and consolidated secured debt of ₹1,650 crore. The company's debt-to-equity ratio as of September 30 stands at 0.34x, among the lowest in the industry. This strategic move aligns with Valor's goal of achieving a debt-free status at a consolidated level in the near future, presenting a positive outlook for investors.