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Zandu Real Estate wedges the contract with the Sheth Developers to reconstruct the Herbal Healthcare Firm

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As per the sources available with www.propertykhazana.com, Zandu Real Estate Ltd has wedged with Mumbai Based Sheth Developers Pvt Ltd to reconstruct the Herbal Healthcare Firm. Zandu Pharmaceutical Works headquarters is in Mumbai’s Dadar area which is in 2.7 acres of commercial complex. On giving the entire to the growth contract, Zandu an Emami Group Firm has collected Rs. 70 Crores in cash from the Sheth Developers and will also collect half the urban region on completion of the venture, said R S Agarwal Joint Chairman of Emami Group.
Zandu charged the price of its Dadar property for Rs. 250 Crores, on going by Zandu’s Stock value of Rs. 1,482.70 on BSE and the market prices of the property is Rs. 119 Crores. Zandu is a company with just one benefit and no liabilities. Zandu Pharmaceutical Works’ Herbal Healthcare Firm itself was merged and engraved out as Emami Ltd after getting the company from its creator for around Rs. 730 Crores and Emami is cashing out the set property of the previous Herbal Healthcare Firm.
According to the sources available to www.propertykhazana.com, the reconstruction of pervious ZPW had formed a coated ownership formation and it is under which Emami possess shares in Zandu Real Estate indirectly during supplementary. Promoter group’s 35.5% bet in Zandu Real Estate which is detained by Emami Rainbow Niketan Pvt Ltd. Naresh Bhansali of Emami Chief Financial Officer said that “Cashes floods from the Dadar Property will gain the investors of Emami, infusing during the holding of the companies besides those of Zandu Real Estate.” Emami group is presently reconstructing its realty ventures merging them into 2 lists firms Zandu Real Estate and Emami Infrastructure Ltd to hub on the unusual section of the trade. The company has told that its 3 firms Emami Realty Ltd, Emami Homes Pvt Ltd and Emami Esates Pvt Ltd will be combined with Zandu Realty.
Source: NIMMA BENGALURU

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