Om Metals Infraprojects’ wholly owned subsidiary - Om Metals Developers (OMDPL) has entered into a developer-owner collaboration agreement with Mahindra Lifespaces and has launched `Ashvita' a premium residential project at Kukatpally, Hyderabad. Om Metals Infraprojects owns 39% stake in this joint venture through its wholly-owned subsidiary Om Metals Real Estate.
The project is located on the main arterial road connecting HITEC City to NH-9 while the project is spread over an area of 10 acre. Mahindra Lifespaces will develop 10 acre built up area and own 80% post developed area rights in the project, while the remaining 20% right will be owned by Om Metals. The company expects revenue of Rs 75 crore as its share against an investment of Rs 20 crore on 10 acre land.
The JV with Mahindra Lifespaces will help the company monetize its investments made in real estate. The project Ashvita is being developed as a gated community and offers a choice of 2BHK (1218 sq ft to 1261 sq. ft.), 3BHK (1567 sq. ft. to 1847 sq. ft.) and 4BHK (2018 sq ft to 2082 sq. ft) units where each apartment is individually styled as per Vaastu norms with emphasis on open spaces to meet buyer preferences.
Company Name | CMP |
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Larsen & Toubro | 3630.60 |
Rail Vikas Nigam | 433.00 |
NCC | 287.25 |
KEC International | 1232.00 |
Kalpataru Projects | 1275.40 |
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