Mumbai, April 9 -- Shares of Texmaco Rail & Engineering declined 2.72% to Rs 128.36 on the BSE.

The binding term sheet outlines the provision of development management services, including coordination and management of project design, building plan approvals, construction, marketing & sales, brand tie-ups for retail & schools, collections, and the overall handover of the mixed-use development project on Texmaco's land at Agarpara Mouza, Barrackpore-2 Block, 24 Parganas (North), West Bengal.

The projected development management fee for Zuari Infra is approximately Rs 130 crore over a period of 10 years. The binding term sheet will remain valid for 6 months or until the execution of the development management agreement (DMA), whichever co...