V R Infraspace’s Subsidiary Daxon Realty Acquires Property Worth ₹52.18 Lakh

Team Finance Saathi

12/Feb/2025

What's covered under the Article:

Daxon Realty Limited, a subsidiary of V R Infraspace, has acquired land at Shree Raam Villa, Madhvaas, Kalol, for ₹52.18 lakh.
The purchase aligns with the company’s expansion strategy but is not expected to significantly impact V R Infraspace’s financials.
The deal excludes stamp duty and registration fees and aims to enhance future growth prospects.

V R Infraspace Limited (NSE Symbol: VR | ISIN: INE0QQM01017) has officially announced that its subsidiary, Daxon Realty Limited, has completed the acquisition of a property located at Shree Raam Villa, Madhvaas, Kalol, covering a total area of 6,422.39 square meters. The purchase was made at a price of ₹52,17,912 (₹52.18 lakh), excluding stamp duty and registration fees.

Details of the Acquisition

The property, situated at Plot No. 1 to 126, Revenue Survey No. 810, 813, 814, was acquired to support Daxon Realty’s strategic expansion in the real estate sector. This investment is expected to enhance the subsidiary’s portfolio and contribute to its long-term growth objectives.

Business Impact

Despite the acquisition aligning with Daxon Realty’s growth strategy, V R Infraspace Limited has clarified that the deal will not have a material financial impact on the company’s overall financials. This suggests that while the purchase is significant for the subsidiary, it does not drastically alter the financial standing of V R Infraspace Limited.

Compliance with SEBI Regulations

This acquisition has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for investors and stakeholders.

Future Prospects

The move indicates Daxon Realty’s intent to expand its real estate footprint in Gujarat, a state witnessing rapid infrastructural growth. The location in Kalol is strategically positioned for residential and commercial development, potentially increasing the subsidiary’s future revenues.

Investors and market analysts will be watching how V R Infraspace Limited and its subsidiary capitalize on this acquisition in the coming quarters.

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