Company already received buyer enquired for 152 units out of total 452 units; Soft Launch of the project was on 24th October, 2023 – DUSSEHRA
Highlights:-
- Company is expecting approx. Rs. 700 crore of revenue from the in next 3 to 4 years.
- Company is planning for expanding Anchaviyo Resort capacity from 46 rooms to 125 rooms
- Company is having free hold surplus land of 40 lakh Sq. ft area (92 Acres) where company is planning to establish weekend homes due to excellent climatic condition and very near to Mumbai
- Company plans to modernize 1,32,000 TPY SSP fertilizer unit with installation of balancing equipment and trying to achieve higher capacity utilization
- Company has got JV project in hand at Vile Parle East 35,000 sq. ft area 3/4 BHK residential luxurious flats in prime location of Vile Parle (East), Mumbai
The Company has received the Sanction of Development, Commencement Certificate, Chief Fire Officer permission from Thane Municipal Corporation, MoEF permission and Civil Aviation permission etc. for the high rise tower project “WEMBLEY” G-59 floors, Shiv Sai Paradise, Phase II, Majiwada having 2/3 BHK residential flats with all amenities & facilities. All the RERA compliances have been done by uploading sanctions and permissions along with amendments from time to time.
Company is now planning for more focus on Hospitality business (ANCHAVIYO RESORT), Real Estate Business and as company has large area of land and properties in possession. Company has decided that whatever revenue from the above projects it will be utilized in future development of company’s future realty and resort divisions. Presently companies theme based resort at Wada which has capacity of 46 rooms which – would increase to 125 rooms as company is now looking for more corporate events and destination wedding. All the infrastructure, other amenities & facility were established by the company with a natural view, boating facility etc., in an area of 10 acres (4,35,600 sq. ft.). Company has also received Non Agriculture permission from Palghar collectorate office for making a Helipad in resort for easy transportation of Guest who are willing to visit the resort on payment charges. (This will start only after necessary permission received from Civil Aviation Ministry).
Company is also trying to modernize and updating their present 1,32,000 TPY SSP fertilizer unit with installation of balancing equipment and trying to achieve higher capacity utilization once sufficient working capital limits is finalized. However, company has got back up plan by offering their present fertilizer assets on lease basis with conversion charges to few reputed companies to whom discussions are on final stage and once the same is finalized the company’s present cash losses will be converted into profit making division.
Additionally, company is having free hold surplus land of 40,00,000 Sq. ft area (92 Acres) where company is planning to establish weekend homes due to excellent climatic condition and very near to Mumbai city and the same is in good demand in present conditions. Also few reputed developers like Godrej properties have started offering scheme of plotting at rate of Rs. 2,500/- per sq. ft land cost only and company can offer best of the best amenities and facilities by making value added weekend homes with all required infrastructure facilities like club house, restaurants, entertainment facility etc for easy stay of Mumbaikars. Company is also in the process of acquiring 30 Acres (13,00,000 Sq. ft) adjacent to present free hold land which will increase the company’s future development activity in Wada.
Company has its Bharat House bearing 431 sq. mtrs. in the Fort Area, Mumbai which has been
given on lease basis and Company is also planning to develop luxury commercial lawyers/solicitors offices being the location is adjacent to Mumbai High Court and Company can avail 6.5 FSI thereby Company can build 30,000 sq. ft. RERA carpet saleable area in future being a prime location property.
Similarly, company has got JV project in hand at Vile Parle East 35,000 sq. ft area 3/4 BHK residential luxurious flats in prime location of Vile Parle (East), Mumbai near Airport and Railway station and once joint venture will be executed the company will inform the shareholder and exchange from time to time. From the above projections company will be expecting sufficient cash flow in coming 4 years.
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