Thursday, November 14, 2024
HomeNewsTop NewsKansai Nerolac Paints sells land to Aethon Developers in Mumbai

Kansai Nerolac Paints sells land to Aethon Developers in Mumbai

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.

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