Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements), Regulations, 2015, Lancor Holdings has informed about the updates of new upcoming projects of the Company: i. Pursuant to the signing of the Memorandum of Understanding (Mou), the Company has signed the Joint Development Agreement with the owners for re-development of the building Ananya Ashok at Mylapore into multistoried residential apartment building. The new building will be called Lancor Ananya. The total turnover of the project would be Rs.75 Crores and the cost of the project would be Rs.55.00 Crores. The Company is expected to make Rs.20.00 Crores margin. ii. The company has successfully signed the Joint Development Agreement with the owners for redevelopment of the building Prof Palanisamy Apartments at Mylapore into multi-storied residential apartment building. The new building will be called Lancor Avighna Residences. The total turnover of the project would be Rs.220 Crores and the cost of the project would be Rs.170.00 Crores. The Company is expected to make Rs.50.00 Crores margin. iii. The Company has successfully negotiated a property for Joint Development, which is again a redevelopment project at Besant Nagar, Kalakshetra Colony. The total turnover of the project would be Rs.150.00 Crores and the cost of the project would be Rs.135.00 Crores. The Company is expected to make Rs.15.00 Crores margin.
The above information is a part of company’s filings submitted to BSE.
