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Hubtown rises on inking pact with GRL for 'Rising City' project As on : 19-Dec-24  10:45

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.

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