The agreement shall allow the company to ensure the project is completed faster. GRL shall be responsible for providing funding to complete the wings in the project in a faster timeframe.
The wings A1-A5 in the Rising City project is being completed by the company with funding from SBI Ventures (SWAMIH Fund), secured in April 2024. With this, Phase I (Buildings A1-A6) of the project has been financially closed, with delivery scheduled to begin in FY26.
Hubtown is engaged in real estate business of construction and development of Residential and Commercial Premises, build-operate Operate Transfer (BOT) Projects, etc.
The company reported a consolidated net profit of Rs 16.65 crore in Q2 FY25 as compared to a net profit of Rs 2.56 crore recorded in Q2 FY24. Net sales jumped 77.9% year on year to Rs 98.94 crore in Q2 FY25.