Balgopal Commercial Ltd

🏗️ Balgopal Commercial's Subsidiary Launches Major Mumbai Real Estate Project

• Dreamax Buildtech (wholly-owned subsidiary) entered JDA with Aakshya Ara Developers LLP on March 12, 2026

• Development project on 3,770.80 square meters land parcel in Kurla, Mumbai

• Aakshya Ara Developers will handle all development, construction, marketing, and sales using 'Aakshya' brand

• Joint venture ratio is 40:60 between Dreamax Buildtech and Aakshya Ara Developers

• Aakshya Ara to pay Rs 40 Crores security deposit (Rs 30 Crores upfront, Rs 10 Crores upon land handover)

• Project must be completed within 48 months from land handover

• Aakshya Ara will bear all construction costs and obtain necessary approvals

• Rationale: Enables development while insulating Dreamax Buildtech from operational risks and third-party claims