Fermenta Biotech Limited & Mextech Property Developers LLP sign Binding Term Sheet for Real Estate Development

Fermenta Biotech Limited

Fermenta Biotech Limited (‘Fermenta')announced that it has signed a Binding Term Sheet today with Mextech Property Developers LLP (‘Mextech') for the balance development of its Thane property through Mextech, whose key partners are Mr Anil Mutha and Mr Rajesh R. Patel. Mr Anil Mutha is the Promoter of Nandivardhan Constructions Private Limited, a major real estate player in Thane and Mumbai. Mr Rajesh R. Patel is the Promoter of RRC Ventures Private Limited which is one of the top construction service providers in India.

Fermenta owns, as a part of its legacy properties, freehold land in Thane which was partly developed by constructing Thane One,an IT/ITES Building. Fermenta has now signed a Binding Term Sheet with Mextechandgranted the development rights to Mextech for construction of residential-cum-commercial buildings (‘Property") in the balance portion of Land. In lieu of this Fermenta would receive affordable luxury residential flats onan area sharing basisaggregating to 120,000 square feet RERA carpet area alongwith amenities in the Property. Within 75 days of the execution of the Binding Term Sheet, the parties would sign the Definitive Agreement and the Property is expected to be constructed within 6 years of signing the Definitive Agreement.

Mr.Prashant Nagre, Managing Director of Fermenta Biotech Limited, commented on the alliance:

"We are pleased to partner with reputed names in the industry for the balance developmentof our Thane property. As our partners with their experience and expertise will take complete responsibility of the development,this allows Fermenta to focus on the growth of its core nutrition businessby enablinggreater availability of management bandwidth and access to financial resources."

Mr. Anil Mutha, Promoter of Nandivardhan Constructions Private Limited, said: "We are pleased to partner with Fermenta, an organization of long-standing repute, for the development of its property in Thane, where Nandivardhan has successfully architected multiple residential towers. With the current project's proximity to the upcoming metro, we expect this to become a prime location for the residential as well as commercial space."

Mr. Rajesh R. Patel, Promoter of RRC Ventures Private Limited, said: "Thane One has redefined the corporate landscape in Thane, with its green ambience and environmentally conscious facilities. With our experience in high quality development, our constructions would be complementary to the aesthetics of the existing building."

About Fermenta Biotech Limited (Fermenta):Fermenta is one of the leading manufacturers of Vitamin D3 globally. Fermenta's manufacturing facilities in Kullu and Dahej are certificated by global accreditations and its world class R&D centre is located at Thane. Apart from Vitamin D3, Fermenta also possesses expertise in integrated biotechnology solutions such as enzymes for antibiotic synthesis and other niche APIs. Fermenta possesses legacy properties, freehold land in Thane, wherein it constructedan IT/ITES business park in 2015, called Thane One. The Thane One building has been conferred with the Indian Green Building Council Award for achieving LEED India Core & Shell Platinum

About Mextech Property Developers LLP (Mextech): Mr Anil Mutha, Promoter of Nandivardhan Constructions Private Limited, and Mr Rajesh R. Patel,promoter of RRC Ventures Private Limited, are partners of Mextech Property Developers LLP.

About The Nandivardhan Group:One of the most well-renowned real estate builders in Thane & Mumbai, the Nandivardhan Group has been the architect of numerous luxury projects. Since its inception, building & construction has been the group's core business. In the next three years, the group plans to complete construction of 1 million square feet and finish 8 projects in the coming five years. In Thane, it has completed seven residential towers, one residential-cum-commercial tower, exclusive bungalows and a residential project is currently underway. For more information, visit the company website www.nandivardhan.com.

About RRC Ventures Private Limited (RRC):RRC Ventures Pvt Ltd has delivered many premium projects for renowned developers in Mumbai Metropolitan Region. Leveraging its core skills, the RRC group's residential and commercial projects of about 1.5 million sq. ft. are under various stages of development. Few of the recently completed construction projects are One Hiranandani Park, Regent Hills and Neelkanth Regent. Development projects currently under progress include Charms Global City, RDC Woods, Konar Business Park and Legacy Park. ​

Safe Harbour:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

Rating. For more information about the Company and its businesses, please visit our website www.fermentabiotech.com.

For further details please contact:

Name : Mr. Prashant Nagre

Designation : Managing Director

Company : Fermenta Biotech Limited

Email ID. : prashant.nagre@fermentabiotech.com