Hindalco Strikes Land Deal with Birla Estates in Maharashtra Worth Rs 595 Crore
Hindalco has received approval from its Board of Directors to sell a land parcel in Kalwa, Maharashtra, to Birla Estates Private Ltd. for Rs 595 crore.
HindalcoBirla EstatesMaharashtraReal EstateAluminum IndustryReal Estate MaharashtraJul 15, 2024
As per the company's filing, the proposal for the sale of the land parcel was approved by the Board of Directors on July 12, 2023. This move is expected to generate significant revenue for Hindalco, which is one of the largest aluminum producers in the world.
Hindalco, a flagship company of the Aditya Birla Group, is a leading player in the Indian aluminum industry. The company has a strong presence in the country, with several manufacturing units and a large customer base. Birla Estates, on the other hand, is a rapidly growing real estate development company that focuses on creating sustainable and futuristic living spaces.
The deal is expected to benefit both companies, with Hindalco set to gain financially and Birla Estates poised to expand its presence in the Maharashtra real estate market. The transaction is a testament to the growing confidence in India's real estate sector, which has been witnessing a surge in demand in recent times.
Information
Hindalco Industries Ltd is a flagship company of the Aditya Birla Group, a multinational conglomerate with a presence in 36 countries. The company is a leading player in the Indian aluminum industry, with a strong focus on sustainability and innovation.
Birla Estates Private Ltd is a real estate development company that is part of the Aditya Birla Group. The company is focused on creating sustainable and futuristic living spaces, with a strong presence in several Indian cities.
The Aditya Birla Group is a multinational conglomerate with a presence in 36 countries. The group has a diverse portfolio of businesses, including aluminum, cement, chemicals, and more. The group is committed to sustainability and innovation, with a strong focus on creating value for its stakeholders.
Frequently Asked Questions
What is the value of the land deal between Hindalco and Birla Estates?
The deal is worth Rs 595 crore.
Where is the land parcel located?
The land parcel is situated in Kalwa, Maharashtra.
Who is the buyer of the land parcel?
Birla Estates Private Ltd is the buyer of the land parcel.
What is the condition for the completion of the deal?
The deal is subject to the signing of definitive documents, completion of customary closing conditions, and receipt of regulatory approvals.
What is the expected benefit of the deal for Hindalco?
The deal is expected to generate significant revenue for Hindalco.
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