Kansai Nerolac Paints Ltd to Vend Lower Parel Land for Rs. 726 Crores

The Board of Directors of Kansai Nerolac Paints Ltd has given the green light to a proposal involving the sale of the company's land parcel at Lower Parel, along with the building situated thereon. The agreement for this transaction is set to be with Aethon Developers Private Limited, a subsidiary of Runwal Developers Private Limited, acting as the purchaser.

The approved consideration for this sale stands at Rs. 726 Crores. The company has officially entered into an Agreement for Sale with the purchaser, marking a significant development in its real estate dealings. However, it is important to note that the successful completion of the sale is contingent upon fulfilling necessary procedures and obtaining approvals as required. The company remains poised to navigate through the requisite steps to finalize this substantial land sale transaction.

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