Completion of Sale of land at Podanur under Phase I
EVERESTIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Everest Industries has completed the sale of 16.84 acres of vacant, excess land at Podanur, Coimbatore to G Square Properties Private Limited. The Phase I transaction was executed on April 10, 2026. The total consideration for the entire 23.32 acres of salable land is Rs. 133.85 crore, of which Rs. 100.82 crore has been received so far. The remaining 6.48 acres is expected to be transferred by November 4, 2026. The buyer is not related to the promoter or promoter group, and the transaction is not a related party transaction.
The sale of non-core vacant land generates significant cash inflow (over Rs. 100 crore received) and completes a multi-phase asset monetisation, which could positively impact the company's balance sheet and provide funds for core operations or growth initiatives.