Balgopal Commercial’s wholly owned subsidiary -- Esquire Real Estate & Bio-infocom has received a Letter of Award (LoA) from Slum Rehabilitation Authority (SRA), Mumbai, for redevelopment of land admeasuring 19,967.36 square meters, situated at Sion Kokari Agar, Shaikh Mistry Road, Antop Hill, Mumbai.
The company's entitlement of free sale component from the project is presently estimated to be around 5.87 lakh square feet (GMV of around Rs 1200 crore), subject to the provisions of Development Control & Promotion Regulations for Greater Mumbai, 2034 and applicable law.
The aforesaid approval is in the ordinary course of business of the subsidiary and enables further progress of the proposed development project, subject to compliance with the conditions specified therein and receipt of other requisite approvals from the concerned authorities.
Balgopal Commercial is engaged in trading activities and is mainly engaged in dealing in derivatives, futures and options. The company has further explored into the business of construction and real estate activities.
