Construction firm Omaxe said its subsidiary has entered into an agreement with Allahabad Development Authority for the development of a township in Allahabad.

Pancham Realcon has has entered into a memorandum of understanding for the development of township in Allahabad on a proposed area of 1,535.12 acres, Omaxe said in a filing to the Bombay Stock Exchange. However, the company has not disclosed the financial details of the township project.