Intimation regarding sale of company property
Price
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Awaiting price reaction for this filing.
Savera Industries Ltd has completed the sale of a 9.008-acre vacant land parcel located at Vittlapuram village, Tirukazhukundram taluk, Kancheepuram district, Tamilnadu. The sale deed was executed on April 29, 2025, for a total consideration of ₹6.76 crores (₹6,75,60,000). The buyer is M/s. Camp TONAKELA Association, Chennai, a camping activity firm that has no connection to the company's promoters or group companies. Importantly, the property contributed nothing to the company's turnover, revenue, or net worth in the last financial year, indicating it was a non-revenue-generating idle asset.
This is a straightforward non-core asset sale that will bring in roughly ₹6.76 crores of cash for the hotel company, with no impact on its operating hospitality business. Shareholders should treat it as routine asset monetization rather than a strategic shift.