Human Industrials’ subsidiary reached consensus to develop land parcels across from Dy Patil Stadium in Nerul
Merino Shellters Private Limited (MSPL), a wholly owned subsidiary of Man Industries (India) Limited, has worked with Realty Developer Greenpaces LLP (part of the Paradise Group) to develop six acres of land in Navi Mumbai.
The plot is located opposite the Dy Patil Stadium in Nerul, Navi Mumbai, Maharashtra.
Early number ₹The company will receive Rs 70 crore, and 30% of the total area of the developed property, equivalent to about 4,50,000 square feet. The Rera carpet area (commercial and residential) said: “In a period of 5 to 6 years, the monetized value of developed countries is about ~6 years old. ₹650 – ₹7 billion. The total monetization value is approximately ₹720 – ₹7.7 billion.
The company said the land is well connected and close to major infrastructure, including the Navi Mumbai International Airport, which will begin operations later this year.
The company said the money generated from asset monetization will support the company’s expansion plans, drive growth and unlock great value for shareholders.
“Key Stepping Stone”
“This transaction is a key stepping stone as management intends to profit from its non-core assets and focus on strengthening its core pipeline business and supporting its ongoing and future expansion plans, such as entering high-value segments and entering new geographical locations,” Nikhil Mansukhani said.
Mansukhani added that the move strengthened the merger plan of Man Industries to become a leader in the pipeline business leader, which will drive consistent growth in the coming years and bring great value to shareholders.
MD Manish Bathija of Paradise Group said they have been working to create landmark developments that redefine urban life.
“This partnership with Merino Grande Pvt Ltd is an important milestone in our journey.”
