Leave and License Agreement for Navi Mumbai office and research lab premises
Company has taken on license an industrial premises at TTC Industrial Area, Mahape, Navi Mumbai (600 sq. meters) for use as office and research lab.
- Premises Location
- Plot No. A-678, TTC Industrial Area, Mahape, Navi Mumbai
- Premises Area
- 600 sq. meters
- Term Duration
- Five years, October 01, 2026 to September 30, 2031
- Monthly License Fee Range
- Rs. 5,50,000/- (1st term) to Rs. 6,68,600/- (5th term)
- Security Deposit
- Rs. 16,50,000/- (refundable, interest-free)
What happened
The Company has entered into a Leave and License Agreement to take on license an industrial premises at Plot No. A-678, TTC Industrial Area, Mahape, Navi Mumbai - 400701, with a plot area of 600 sq. meters. The premises will be used as office and research lab premises for its business operations.
Term
- Five (5) years, from October 01, 2026 to September 30, 2031.
- Lock-in period of two (2) years.
- After the lock-in, either party may terminate by giving sixty (60) days' prior written notice.
Cost structure
The license fee escalates each term
- 1st term: Rs. 5,50,000/- per month
- 2nd term: Rs. 5,77,500/- per month
- 3rd term: Rs. 6,06,375/- per month
- 4th term: Rs. 6,36,700/- per month
- 5th term: Rs. 6,68,600/- per month
An interest-free refundable security deposit of Rs. 16,50,000/- was paid upon execution.
Counterparties
The agreement is with Mr. Subhash Thadomal Khageja and Mr. Thadhomal Santomal Khageja, the lawful owners of the property. They are not related to the promoter, promoter group or group companies, and the transaction is not a related party transaction.
What it means for investors
This is an operational leasing arrangement rather than a purchase. No special rights such as right to appoint directors or share subscription rights are involved, and no shares are issued. It signals the Company setting up office and research lab space, with a recurring monthly outflow that steps up over the five-year term.
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More numbers
- Plot area600 sq. meters
- Agreement termfive (5) years
- Lock-in periodtwo (2) years
- Notice period post lock-insixty (60) days'
- License fee 1st termRs. 5,50,000/- per month
- License fee 2nd termRs. 5,77,500/- per month
- License fee 3rd termRs. 6,06,375/- per month
- License fee 4th termRs. 6,36,700/- per month
- License fee 5th termRs. 6,68,600/- per month
- Refundable security depositRs. 16,50,000/-
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