Driving Naari Programme launched in Chandigarh
Multibagger stock Sindhu Trade Links will be undertaking the development of a mixed-use township in Bilaspur, Chhattisgarh. The company informed about the same through an exchange filing.
Bilaspur is one of the 100 Indian cities to be developed as a Smart city under the ‘Smart Cities Mission.’
The proposed township is spread over 63 acres, out of which the company already owns about 47 acres of land and has tied up with other partners for another 16 acres. The project consists of residential plotted development, residential group housing, retail shopping mall and also consists of all the required social infrastructure for a world class development in this region, it said.
Shares of Sindhu Trade Link were trading 5.14 per cent lower at Rs 26.05 on Friday, compared to their previous close of Rs 27.46. The company was commanding a total market capitalization of more than 3,850 crore. The scrip has surged more than 1,700 per cent in the last three years from its price around Rs 1.5 in August 2020.
The total development potential of the site is about 1.5 million square feet, with some possible upsides on built up villas and apartment sales in latter phases, irstead of plotted land sales. The company is all set to start this proiect in the current financial year, it said in the filing.
The total revenue potential of this development is about Rs 550 crores, based on the ongoing property rates in the vicinity. Sindhu Trade Links would invest Rs 200 crores in this project, with funds being raised through internal accruals and construction finance, added the filing.
Delhi-headquartered Sindhu Trade Links is flagship company of the conglomerate engaged in the businesses of coal logistics, transportation, mining, coal beneficiation, power generation, media, finance.
