The latest update is out from Man Industries (India) Limited ( (IN:MANINDS) ).
Man Industries (India) Limited announced the monetization of land owned by its wholly-owned subsidiary, Merino Shelters Private Limited, in Navi Mumbai. The company has entered into a Deed of Assignment with Paradise Green – Spaces LLP, part of the Paradise Group, granting development rights for approximately 6 acres of land. This deal will provide Man Industries with an upfront amount of Rs. 70 Crores and 30% of the developed property’s area, which is expected to have a monetizing value of Rs. 650 – Rs. 700 Crores over 5-6 years, totaling an estimated Rs. 720 – Rs. 770 Crores. This transaction is significant for Man Industries as it enhances their financial position and strengthens their foothold in the real estate market.
More about Man Industries (India) Limited
Man Industries (India) Limited operates in the manufacturing sector, focusing on the production of large diameter carbon steel pipes and coating systems. The company serves the oil, gas, and water industries, providing infrastructure solutions for various projects.
YTD Price Performance: -18.77%
Average Trading Volume: 30,528
Current Market Cap: 17.26B INR
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