Kansai Nerolac Paints has entered into definitive agreements for conveyance of lease with Aethon Developers, a subsidiary of Runwal Developers, for an aggregate consideration of Rs 726 crore.
In December 2023, the company had approved a proposal for entering into an agreement for sale with Aethon Developers for the sale of its land parcel in Lower Parel, Mumbai.
“The board of directors have approved a proposal for monetization of idle land parcels of the company not being put for productive use,” it had said in a BSE filing.
In September 2024, the company had entered into a deed of conveyance with Bombay Zoroastrian Jashan Committee (BZJC) to purchase revisionary rights of a land parcel at Lower Parel for a consideration of Rs 48 crore.
