Kataria Industries Limited Enters Development Agreement with M. J. Builders
Mumbai – March 28, 2026 – Kataria Industries Limited announced today the execution of a development agreement with M. J. Builders for the redevelopment of an immovable property in Mahim (West), Mumbai. The property is located on Caddel Road, Swatantyra Veer Savarkar Road, Mahim (West), Mumbai-400 016 (Maharashtra), and encompasses C.S. Nos. 1020, 1/1020, 1021, 1024, 1/1024, 1025, 1026, 1027, 1028, 1029, 1030, 1031, 1032, 1035 and 1036, with an aggregate total area of 3347.89 sq. mts.The agreement outlines that Kataria Industries Limited will undertake the redevelopment and development of the property. Key terms include the allotment of approximately 25,200 sq. ft. of RERA carpet area to M. J. Builders, and a monetary consideration of ₹1 crore. An interest-free refundable security deposit of ₹54 crore is also part of the agreement, subject to specified conditions. The project is expected to be registered under MahaRERA with both parties considered as promoters. The estimated project timeline is 60 months plus a 6-month grace period from the commencement certificate.
Directors of Kataria Industries Limited are partners in M. J. Builders, classifying this transaction as a related party transaction. The transaction will be undertaken in compliance with applicable laws and on an arm's length basis. Shareholder approval for the related party transaction will be obtained in due course.
| Disclosure Requirement | Details |
|---|---|
| Parties to the Agreement | Kataria Industries Limited and M. J. Builders |
| Purpose of Agreement | Redevelopment and development of immovable property in Mahim (West), Mumbai |
| Total Area of Property | 3347.89 sq. mts. |
| Consideration to Owner | 25,200 sq. ft. RERA carpet area and ₹ 1 crore |
| Security Deposit | ₹ 54 crore (interest-free and refundable) |
| Project Timeline | 60 months + 6-month grace period |
| Relationship of Parties | Directors of Kataria Industries Limited are partners in M. J. Builders |
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