India's RPP Infra Projects gains after withdrawing from Sri Lanka project

RPP Infra Projects

08/10/2026 08:13

** Shares of RPP Infra Projects RPPI.NS rise 2.5% to 52.72 rupees
** Infrastructure company says unit RPP Infra Projects (Lanka) has decided to withdraw from the Legend 96 residential project in Sri Lanka and has communicated its intention to terminate the agreement with Wills Realtors
** Adds, delays in approvals, financing challenges and proposed changes to revenue-sharing arrangement made project commercially and financially unfeasible
** Co says it is seeking recovery of expenditure incurred during initial stages of the project
** Stock down 47.6% YTD 
     
     

(Reporting by Payel Das in Bengaluru)
((Payel.das@thomsonreuters.com))