Pharma Major Micro Labs Acquires 3-Acre Land for ₹111 Crore in Bengaluru
Pharmaceutical giant Micro Labs Limited has purchased a 3-acre industrial land in East Bengaluru for ₹111.07 crore. The deal, which involved a stamp duty of ₹6.22 crore, was registered on September 5, 2024, and highlights the company's strategic expansion
Micro LabsLand AcquisitionBengaluruPharmaceutical IndustryReal EstateReal Estate NewsOct 17, 2024
The land, previously agricultural, has been converted for industrial use, a process that requires necessary approvals from local authorities and the payment of fees. This acquisition is part of Micro Labs' ongoing strategy to expand its manufacturing and distribution capabilities in the highly competitive pharmaceutical sector.
Micro Labs Limited, established in 1973, is a renowned pharmaceutical formulations maker and distributor. The company has a strong international presence, operating in 50 countries with ground-level operations in 25. Within India, Micro Labs manages 14 manufacturing plants located across Bengaluru, Sikkim, Puducherry, Goa, and Tamil Nadu.
Hoodi, a developing locality in the eastern periphery of Bengaluru, is strategically located. It is flanked by Ayyappa Nagar to the north, Whitefield to the east, Mahadevapura to the west, and Brookfield to the south. The area is known for its proximity to major IT parks like RMZ NXT and International Tech Park, as well as its metro connectivity and residential projects by renowned developers such as Godrej Properties, Brigade Enterprises, and the Sumadhura Group.
This acquisition is not the first significant real estate move for Micro Labs in Bengaluru. Last year, the company's managing director, Dilip Surana, purchased a bungalow in the IT city for ₹66 crore. The property, located in FairField layout along Devaraj Urs Road (formerly Race Course Road), underscores the company's commitment to maintaining a strong presence in the region.
While Micro Labs did not respond to queries regarding the land acquisition, the deal highlights the company's aggressive growth strategy and its focus on expanding its industrial footprint in one of India's major tech hubs.
Micro Labs' acquisition of this prime land in Bengaluru is expected to bolster its manufacturing capabilities and support its ambitious growth plans in the coming years. The strategic location of the land, with its proximity to key infrastructure and development zones, positions the company well to capitalize on the growing pharmaceutical market in India and beyond.
Frequently Asked Questions
What is Micro Labs Limited?
Micro Labs Limited is one of the largest privately held pharmaceutical companies in India, established in 1973. It has a global presence in 50 countries and operates 14 manufacturing plants across India.
Where is the newly acquired land located?
The newly acquired land is located in Hoodi Village, East Bengaluru, a developing locality known for its proximity to major IT parks and residential projects.
How much did Micro Labs pay for the land?
Micro Labs paid ₹111.07 crore for the 3-acre industrial land parcel, which also involved a stamp duty of ₹6.22 crore.
What is the significance of the land acquisition for Micro Labs?
The acquisition is part of Micro Labs' strategic expansion in the pharmaceutical sector, aimed at enhancing its manufacturing and distribution capabilities in Bengaluru, a major tech hub.
Who did Micro Labs buy the land from?
Micro Labs purchased the land from Bengaluru-headquartered Anushka Constructions Private Limited.
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