Realty major Omaxe today said its subsidiary has entered into an agreement with Bulandshahar Development Authority for developing a township for an undisclosed amount.
Rivaj Infratech, has entered into a memorandum of understanding with the Bulandshahar Development Authority to develop a township, Omaxe said in a filing to the Bombay Stock Exchange (BSE).
The proposed township would help the company to realise estimated revenues of over Rs 7,500 crore and would be executed over a period of five to seven years, the filing added.
The company, however, has not given the financial details of the project.
Shares of Omaxe were trading at Rs 121.85 on BSE, up 3.66 per cent from previous close.