Mastek Limited has informed the Exchange about execution of MOU for Sale of Asset
MASTEK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mastek Limited has executed a Memorandum of Understanding on April 24, 2026, for the sale of a commercial building with approximately 1,57,233 sq. ft. built-up area located at Mahindra World City, SEZ in Chengalpattu, Chennai. The property sits on 15.50 acres of leased land. The aggregate consideration is Rs. 60 crores, to be received in two tranches. The buyer is Caresoft Mobility Private Limited, which is not part of the promoter or group companies. The transaction is subject to receipt of necessary regulatory approvals and SEZ compliances, and is explicitly stated to be outside any scheme of arrangement.
This sale of a non-core real estate asset for Rs. 60 crores is unlikely to have a significant direct impact on the stock price, as it does not involve the company's core IT services business. The transaction is not a related party deal and does not constitute disposal of substantially the whole of the undertaking.