Veer Global Signs Agreements for Two Joint Development Projects
By Shishta Dutta | Published at: Jun 26, 2025 03:54 PM IST
Mumbai, June 26, 2025 – Veer Global Infraconstruction Limited (BSE: 543241) has announced the signing of two Joint Development Agreements (JDAs) aimed at boosting its land development pipeline across Maharashtra. The agreements, dated June 20, 2025, involve separate projects with distinct land partners, underscoring the company’s strategic push in the real estate development sector.
Highlights of the Development Agreements
| Agreement Party | Type | Consideration / Benefit to Veer Global |
|---|---|---|
| Mr. Inas Salu Pereira | Landowner | Receives 48% of constructed area (3032.17 sq. mtrs) in flats |
| M/s Sai Rydam Realtors Pvt. Ltd. | FSI Rights Holder | Gets 5th, 7th & 11th Floors of Building No. 6 |
1. Agreement with Mr. Inas Salu Pereira
Veer Global entered into a development agreement with landowner Mr. Inas Salu Pereira for the development of a land parcel. According to the terms, the company will allocate 48% of the total constructed area, equivalent to 3,032.17 square meters, in the form of flats to the landowner.
- Transaction Date: June 20, 2025
- Structure: Landowner to receive consideration in kind (residential flats)
- Related Party Status: Not related to promoter/promoter group
- SEBI Compliance: Regulation 30 of SEBI (LODR), Master Circular SEBI/HO/CFD/PoD2/CIR/P/2023/120
2. Agreement with M/s Sai Rydam Realtors Private Limited
A separate agreement was signed with M/s Sai Rydam Realtors Private Limited, which holds FSI (Floor Space Index) rights for a designated parcel. As consideration, Veer Global will transfer three floors (5th, 7th, and 11th) of Building No. 6 in the form of flats to the FSI Rights Holder.
- Transaction Date: June 20, 2025
- Nature of Deal: FSI-based joint development
- Floors Transferred: 5th, 7th & 11th of a designated tower (Building No. 6)
- Related Party Status: No relation to promoter/promoter group
- Regulatory Clause: Regulation 30 of SEBI LODR
Land Aggregation Strategy Gains Momentum
These back-to-back deals reflect Veer Global’s active focus on land aggregation and strategic partnerships to scale up its real estate development business. By structuring the agreements to compensate land and FSI holders through a share in the constructed area, the company is minimizing upfront cash outflows while securing high-value land parcels.
About Veer Global Infraconstruction
Veer Global Infraconstruction Limited is a listed entity on BSE, primarily engaged in residential and commercial real estate development in Maharashtra. Known for mid-income housing projects, the company has consistently focused on asset-light growth strategies involving JDAs and FSI-based tie-ups.
These latest developments mark a continued expansion of its operational footprint and support its vision to scale delivery volumes over FY26.
REF:
https://www.bseindia.com/xml-data/corpfiling/AttachLive/40a8c23a-eb70-4d90-8585-18bbf10400ab.pdf
https://www.bseindia.com/xml-data/corpfiling/AttachLive/d21cae99-7152-4b9d-a02d-a628142c3bbb.pdf
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