Kansai Nerolac Paints to sell land parcel to Aethon Developers for Rs 726 crore, ET RealEstate

December 28, 2023
1 min read
kansai nerolac paints to sell land parcel to aethon developers for rs 726 crore

NEW DELHI: The board of directors of Kansai Nerolac Paints have approved a proposal for entering into an agreement for sale with Aethon Developers, subsidiary of Runwal Developers, for the sale of the company’s land parcel at Lower Parel, Mumbai together with building thereon, for a consideration of Rs. 726 crore.

“The board of directors have approved a proposal for monetization of idle land parcels of the company not being put for productive use,” it said in a BSE filing.

The company had reported a growth of 57.79 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 175.48 crore as against Rs 111.21 crore it registered in the corresponding quarter of the previous fiscal.

It’s net consolidated total income stood at Rs 1,978.56 crore in Q2 FY24, a growth of 2.25 per cent from Rs 1,935.03 crore it recorded in the similar quarter last year.

  • Published On Dec 27, 2023 at 07:23 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App
realty barcode

Source link


Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

separate authority for redevelopment in new housing policy maharashtra minister
Previous Story

Separate authority for redevelopment projects in new housing policy, ET RealEstate

delhi signature view apartment residents defy mcds eviction notice
Next Story

Signature View Apartment residents defy MCD’s eviction notice, ET RealEstate

Latest from Blog