Univastu India and Bootes Infrastructure Win Landmark Land Monetization Project in Aligarh
Univastu India Limited has formed a Joint Venture with Bootes Infrastructure Limited to undertake a significant land monetization project in Uttar Pradesh. Univastu India Limited holds a 49% stake in this Joint Venture, which secured a Letter of Award from the Aligarh Development Authority, Government of Uttar Pradesh (ADA).The awarded contract pertains to the development of Prime ADA's Land Near Soot Mill Circle, Baroula Jafrabad, Aligarh. The project will be executed under a Public Private Partnership (PPP) Model utilizing a Joint Development Agreement (JDA) on a Revenue-Sharing Basis.
The project scope includes approximately 25,091 Square Meters of land and is slated for implementation over a concession period of 96 months, encompassing construction, sales, and operation and maintenance phases.
Project Structure and Financial Commitments
Under the PPP model, the development is structured as a revenue-sharing arrangement. A key component of the agreement requires the Special Purpose Vehicle (SPV) to adhere to specific financial guarantees mandated by the Aligarh Development Authority.The project details regarding size, timeline, and financial commitments are summarized below:
| Detail | Specification |
|---|---|
| Awarding Entity | Aligarh Development Authority, Government of Uttar Pradesh |
| Project Location | Prime ADA's Land Near Soot Mill Circle, Baroula Jafrabad, Aligarh, Uttar Pradesh |
| Total Land Area | Approximately 25,091 Sq. Mtrs. |
| Development Model | Land Monetization Framework through a Joint Development Agreement (JDA) on a Revenue Sharing Basis |
| Concession Period | 96 months |
| Minimum Guaranteed Revenue (MGR) | ₹90.00 Crore to Aligarh Development Authority |
| Performance Bank Guarantee Requirement | ₹5.00 Crore in favour of Aligarh Development Authority |
The agreement specifies that the SPV must pay either the Minimum Guaranteed Revenue (MGR) or the revenue share based on the quoted percentage, whichever amount is higher, according to the prescribed payment schedule under the Joint Development Agreement. Additionally, prior to executing the JDA, the SPV is required to furnish an unconditional and irrevocable Performance Bank Guarantee of ₹5.00 Crore as security for fulfilling its obligations.
The development model requires that the revenue share payable to Aligarh Development Authority will be determined based on the terms of the Joint Development Agreement and the bid submitted by the selected developer.
UNIVASTU Stock Price Movement
Univastu India Limited shares slipped by 3.07% to settle at ₹78.31 today after market close. The stock traded within a range of ₹77.11 and ₹81.8 during the session.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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