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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Lodha to buy Unichem's land parcel in Mumbai
Macrotech Developers, has entered into an agreement to acquire a land parcel spread over 3.4 acres in Mumbai's western suburb Jogeshwari West from pharmaceutical company Unichem Laboratories for over '279 crore.
The land parcel at Prabhat Estate off Swami Vivekananda Road houses an office building spread over 82,000 sq ft, which was the registered office of the company until now.
While the deal is yet to be inked and registered, Unichem's board of directors have approved the plan to monetise this land parcel.
The book value of this property in the company's books of accounts is about '2.18 crore.
It may be noted that no business operations of the company were carried out from this property. It was earlier used as a registered office of the company, which had been shifted to Kandivali West, Unichem said in a regulatory filing.
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