Safari Industries (India) buys land in Gujarat.

The company said its wholly-owned subsidiary, Safari Manufacturing, purchased a land with constructed property at Halol in Gujarat for Rs. 22.51 crore.

Safari Manufacturing has executed a sale-purchase agreement with Lear Automotive (India) on 3 December 2021 for purchasing land with constructed property along with the buildings and utilities present on site situated at Mouje, Taluka: Halol, District: Panchmahal, Gujarat for a total consideration of Rs. 22.51 crore.

"The aforesaid document shall be followed by Sale Deed, subject to completion of Conditions Precedent and necessary approvals, if any," Safari Industries (India) said in a statement.

On a consolidated basis, Safari Industries (India) reported net profit of Rs. 10.62 crore in Q2 September 2021 as against net loss of Rs. 8.97 crore in Q2 September 2020. Net sales rose 199.65% to Rs. 188.60 crore in Q2 September 2021 over Q2 September 2020.

Safari Industries (India) is in the business of manufacturing and trading of luggage and luggage accessories.

BS