Arisinfra’s Unitern will manage an 18-month end-to-end mandate for Transcon UNO, covering construction, materials, sales, collections and lender management.
In a regulatory filing, Arisinfra Solutions said its subsidiary, ArisUnitern RE Solutions Pvt. Ltd. (Unitern), has secured its second mandate from Transcon Group, this time for the development of Transcon UNO in Kalina, Mumbai, with an estimated gross development value (GDV) of about Rs. 400 crore.
The mandate covers a commercial redevelopment project at Kalina in Santacruz East, comprising high-end retail space and seven floors of office space. The project has approximately 1.06 lakh sq ft of free-sale RERA carpet area, according to the company.
The latest project follows Unitern’s first mandate from Transcon Group for Phase 1 of Transcon Ramdev Plaza in Santacruz West. With the addition of Transcon UNO, the total GDV of projects covered under Unitern’s Developer-as-a-Service (DaaS) mandates has risen to more than Rs.2,500 crore, which the company says is to be executed over the next 30 months.
Under the 18-month mandate, Unitern will oversee construction through a Category A contractor and supply project materials through the ARIS platform. Its responsibilities will also include sales, marketing, collections and lender management.
The company said the promoter will have access to a live Project Health Index dashboard for project visibility. All approvals, including RERA approval, are already in place, allowing construction and sales activities to begin immediately.
The mandate places Unitern in charge of multiple functions across the project, rather than limiting its role to construction management. The company describes its DaaS model as combining money, material and management to take real estate projects from stalled stages through to delivery.
Commenting on the mandate, Srinivasan Gopalan, CEO, ARIS, said the second project from Transcon follows the experience of the two companies on the earlier Santacruz development. He also said the Kalina project would move directly into execution with approvals and a Category A contractor already in place.
Kirti Kedia, Promoter, Transcon Group, said the group was partnering with Unitern again following its experience on Phase 1 of Transcon Ramdev Plaza. According to Kedia, Unitern will drive execution while Transcon focuses on approvals and tenant management.
