Touchwood Entertainment Secures Property Development Rights from DMRC in Delhi Metro Network Area
Touchwood Entertainment Limited has received a Letter of Acceptance (LOA) from the Delhi Metro Rail Corporation Limited (DMRC). The acceptance relates to the property development rights on a land plot located at Mohan Estate Metro Station of Line-6 of the Delhi Metro Network.The project was awarded to a consortium led by Touchwood Entertainment Limited, alongside Hometown Properties Private Limited. According to the details provided, Touchwood holds a 70% stake in the consortium, with Hometown Properties contributing the remaining 30%.
This development opportunity falls within the normal course of business for the company. The land parcel is specified as measuring 8,903.77 Sq. Mtrs., situated at Mohan Estate Metro Station of Line-6 in Delhi.
The project details confirmed that the order was awarded by a domestic entity and concerns the Award of Project/Development Rights for Property Development on the specified land plot. The financial consideration for this development is based on the bid submitted by the Consortium and will be governed by the terms of the LOA and definitive agreements signed with DMRC.
Key project details are summarized below:
| Detail | Information |
|---|---|
| Awarding Entity | Delhi Metro Rail Corporation Limited (DMRC) |
| Project Scope | Property Development on 8,903.77 Sq. Mtr. Land Plot at Mohan Estate Metro Station of Line-6, Delhi Metro Network |
| Consortium Composition | Touchwood Entertainment Limited (70%) and Hometown Properties Private Limited (30%) |
| Nature of Award | Award of Project/Development Rights |
| Location | Mohan Estate Metro Station, Line-6, Delhi Metro Network |
The project is expected to be executed according to the terms and conditions outlined in the Request for Proposal (RFP), the Letter of Acceptance, and subsequent agreements finalized with DMRC.
TOUCHWOOD Stock Price Movement
Touchwood Entertainment Limited shares closed today, shedding 0.65% to settle at ₹70.00 in the post-market session. The stock traded within an intraday range of ₹69.1 to ₹71.9, with a reported volume of 1,328 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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