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Awaiting price reaction for this filing.
The West Bengal state government has decided to take back 1.46 acres of land out of the 40 acres leased to Nicco Parks & Resorts. This land was being used for the company's Food & Beverage and other Recreational Activities segment. The operations on this land contributed about Rs 700.25 lakhs, or roughly 9% of the company's total revenue (based on FY25 consolidated figures). The repossession takes effect immediately. The company has stated there will be no impact on net worth, except for some depreciated assets whose value cannot be quantified right now. The board approved this disclosure at its meeting on 12 November 2025.
Shareholders should note that the company is losing a small but not insignificant part of its business — around 9% of revenue will be affected going forward. While management says net worth stays largely unaffected, the loss of this land and the related business segment could weigh on future revenue and profitability. This is a state-government decision, not a company-driven restructuring.