NSEGeneral Updates7 Oct 2026 · 7 Oct 2026, 06:20 pm
General Updates
R.P.P. Infra Projects Limited · RPPINFRA
✦ AI SummaryOrder Cancel
R.P.P. Infra Projects Limited has withdrawn from the Legend 96 project in Sri Lanka due to delays in obtaining approvals and financing challenges. The company has incurred expenditure in connection with the initial stages of the project and is in the process of recovering these amounts with Wills Realtors.
Analysis Scores
Earnings Impact2/10
Growth Catalyst1/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment5/10
✦ Ask a Question
Ask anything about this announcement — AI will answer based on the filing content.
Full Announcement
R.P.P. Infra Projects Limited has informed the Exchange about withdrawal of Legend 96 Project
Attachments (1)
📄pdf
Download →
RPPINFRA_07102026181711_Stock_Exchange_intimation-Legend_96-withdrawal_of_the_proposal.pdf
View document text
RPP Infra Projects Limited
Date: 7th October 2026
Department of Corporate Services, Compliance Department,
BSE Limited (BSE) National Stock Exchange of India Limited (NSE)
25th Floor, Phiroze JeeJeeBhoy Towers, Exchange Plaza, Plot No. C-1, Block G,
Dalal Street, Fort, Bandra Kurla Complex, Bandra (East)
Mumbai - 400001 Mumbai - 400051
Scrip Code: 533284 NSE Symbol: RPPINFRA
ISIN: INE324L01013 ISIN: INE324L01013
Dear Sir/Madam
Subject: Withdrawal of the Legend 96 project – intimation pursuant to Regulation
30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
This is to inform you that the Company had earlier, vide its letter dated 4th December
2024, intimated the Stock Exchanges regarding the in-principle agreement with Wills
Realtors (Private) Limited (“Wills Realtors”) for the development of the “Legend 96”
residential project in Sri Lanka.
Subsequently, RPP Infra Projects (Lanka) Limited (“RPP Infra”), a subsidiary of the
Company, entered into a Development and Financing Agreement dated 28th January 2025
with Wills Realtors, pursuant to which RPP Infra was to participate as the Joint Developer
and Wills Realtors as the Primary Developer for the proposed project.
The project has experienced delays, primarily on account of the time required for
obtaining the necessary regulatory, statutory and building approvals in Sri Lanka.
Further, arranging project financing through Indian banks has proved challenging in view
of the prevailing conditions in Sri Lanka, necessitating exploration of alternative local
financing arrangements.
In connection with the proposed local financing arrangements, it was contemplated that
the project land would be offered as security/mortgage for obtaining the necessary
financial assistance. However, the Primary Developer was not willing to provide the
project land as security for such financing. Further, in the event that the project land was
offered as security, a proposal was made to alter/dilute the revenue-sharing arrangement
agreed under the Development and Financing Agreement.
Regd Office: Corporate Office: CIN: L45201T1995PLC006113
SF.No. 454, Raghupathynaiken Palayam, Ozone Premia, 6th Floor,
Railway Colony (Po), Poondurai Road, New No. 39, Dr. Radha Krishnan Salai,
Erode – 638002. Tamilnadu. India. Mylapore, Chennai – 600 004. Tamilnadu. India.
: ao@rppipl.com | : www.rppipl.com : cco@rppipl.com | : www.rppipl.com
: 04242284077 : 044 6929 2771/72/73/74/75
RPP Infra Projects Limited
After considering the above circumstances, including the delays in obtaining approvals,
financing challenges, proposed security arrangements and the proposed alteration to the
agreed revenue-sharing arrangement, the Company has determined that continuation of
its participation in the project is not commercially and financially feasible.
Accordingly, RPP Infra has decided to withdraw from and discontinue its participation as
Joint Developer in the proposed “Legend 96” project and has communicated its intention
to Wills Realtors vide letter dated 7th October 2026, seeking termination of the
Development and Financing Agreement and settlement of the amounts payable between
the parties.
The Company has incurred certain expenditure in connection with the initial stages of the
project, including expenditure towards assignment fees and other consideration relating
to assignment/development rights. The Company is in the process of recovering such
amounts with Wills Realtors, and the parties propose to discuss and mutually agree upon
the manner of settlement thereof.
The withdrawal from the project is not expected to have any material adverse impact on
the ongoing operations of the Company.
Disclosure is being made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November
11, 2024 as Annexure A
We request you to take the same on record
Thanking You,
Yours Faithfully,
For R.P.P Infra Projects Limited
I Selvam
Company Secretary & Compliance Officer
Regd Office: Corporate Office: CIN: L45201T1995PLC006113
SF.No. 454, Raghupathynaiken Palayam, Ozone Premia, 6th Floor,
Railway Colony (Po), Poondurai Road, New No. 39, Dr. Radha Krishnan Salai,
Erode – 638002. Tamilnadu. India. Mylapore, Chennai – 600 004. Tamilnadu. India.
: ao@rppipl.com | : www.rppipl.com : cco@rppipl.com | : www.rppipl.com
: 04242284077 : 044 6929 2771/72/73/74/75
RPP Infra Projects Limited
Annexure A
Disclosure pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 read with SEBI
Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Sl. No Particulars Details of the Projects
1 Name of parties to the RPP Infra Projects (Lanka) Limited, a subsidiary of
order(s)/contract(s) R.P.P. Infra Projects Limited, and Wills Realtors
(Private) Limited
2 Nature of the Development of the Sri Lankan Residential
order(s)/contract(s) Complex project named “Legend 96”
3 Date of execution of the 28/01/2025
order(s)/contract(s)
4 Date of 07/10/2026
termination/amendment of
the order(s)/contract (s)
5 Details of amendment or Delay in obtaining requisite approvals,
reasons for terminations challenges in arranging project financing, non-
and impact thereof (to the availability of the project land as security for
extent possible); the proposed financing, and the proposed
dilution of the agreed revenue-sharing
arrangement. Accordingly, RPP Infra has
decided to withdraw from the project and has
communicated the same to Wills Realtors vide
letter dated 7th October 2026. The withdrawal
is not expected to have any material adverse
impact on the ongoing operations of the
Company. The Company is in the process of
recovering the expenditure incurred in
connection with the initial stages of the
project with Wills Realtors. |
Regd Office: Corporate Office: CIN: L45201T1995PLC006113
SF.No. 454, Raghupathynaiken Palayam, Ozone Premia, 6th Floor,
Railway Colony (Po), Poondurai Road, New No. 39, Dr. Radha Krishnan Salai,
Erode – 638002. Tamilnadu. India. Mylapore, Chennai – 600 004. Tamilnadu. India.
: ao@rppipl.com | : www.rppipl.com : cco@rppipl.com | : www.rppipl.com
: 04242284077 : 044 6929 2771/72/73/74/75