W S Industries Secures Role as Developer for Senior Living Project in Chennai
W S Industries (India) Limited has agreed to enter into a Binding Tripartite Term Sheet to undertake the development of a senior living residential project located at Poonamalee, Outer Ring Road (ORR), Chennai, Tamil Nadu. The project involves collaboration with SIXP Realty Private Limited, who serves as the Landowner, and Bharathi & Associates Asset Building Private Limited, designated as the Marketing Co-Developer.The agreement outlines the terms for W S Industries to act as the Developer, responsible for the end-to-end execution of the project.
Project Scope and Commercial Terms
The development is planned across approximately 4.00 acres of land in phases. The project has an indicative FSI / FAR of 3.25, allowing for a permissible built-up area estimated at approximately 5,66,280 sq. ft., subject to statutory approvals.The commercial arrangements have been defined across the key parties:
| Party Role | Company | Primary Responsibility |
|---|---|---|
| Developer | W S Industries (India) Limited | End-to-end development and execution of the project. |
| Landowner | M/s. SIXP Realty Private Limited | Providing the Project Land for development. |
| Marketing Co-Developer | M/s. Bharathi & Associates Asset Building Private Limited | Branding, marketing, and sales activities. |
Financial Entitlements and Funding Structure
Under the terms of the Binding Tripartite Term Sheet, W S Industries, acting as the Developer, is entitled to a Fixed Return equivalent to 7.5% of the Topline actually realized from the project. The Marketing Co-Developer, conversely, will receive a Fixed Fee amounting to 15% of the Topline, which includes the sales and marketing expenditure it undertakes.A crucial component of the agreement concerns the funding for the development and execution of the Project. W S Industries is responsible for applying for, raising, and arranging the necessary Working Capital facilities. These proposed Working Capital facilities are intended to be secured against the Project Land owned by SIXP Realty Private Limited. Furthermore, if required by the lender(s), current assets and other project assets, such as receivables, inventory, stocks, book debts, or other movable/current assets, may also be offered as additional security.
The binding Tripartite Term Sheet is set to be executed by W S Industries, M/s. SIXP Realty Private Limited, and M/s. Bharathi & Associates Asset Building Private Limited on or after July 27, 2026. The documentation anticipates the eventual execution of a detailed Tripartite Joint Venture / Development Agreement that will stipulate the specific rights, obligations, and responsibilities of all parties involved.
The proposed arrangement is expected to allow W S Industries to expand into the senior living / senior care segment while managing the entire project development and executing funding requirements.
WSI Stock Price Movement
W S Industries (I) Limited stock rallied on Monday, climbing by 0.59% to settle at ₹62.40 in the previous trading session. The equity saw activity across a range of ₹61.49 to ₹65.89, with a volume of 121,079 shares recorded.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.