KEC International puts 7 acres in Thane on the block
The flagship firm of Harsh Goenka’s RPG Group, KEC International, has put a seven-acre plot in Thane on the block.
As per sources the plot is likely to be purchased by Tata Housing for 210 crore, previously housing its cable manufacturing facility.
A person close to the development said, for the last three months, the due-diligence has been on, and the deal is expected to be concluded this month.
A KEC International spokesperson said, responding to an e-mail questionnaire, in Thane we have approximately seven acres where we had our cable manufacturing facility.
Now the facility reallocation is done to Vadodara, and various options are being explored to deal with this land, including disposing it off.
An engineering, procurement and construction company, KEC, on net profit for the quarter ended December 31, reported a 35 per cent year-on-year drop, because of higher tax expenses.
Compared with 29.33 crore a year ago, Net profit for the quarter was at 19.15 crore.
Tata Housing mentioned while responding to a query that though it had not signed any new land deal yet, it was actively exploring land parcels.
A spokesperson said, “Tata Housing has aggressive growth plans for (the) next three to five years, and we keep exploring multiple land options to expand our presence in various parts of the country.”
Presently in Mumbai, Tata Housing has four projects lined up at Mulund, Kalyan, Boisar and Vasind surburb and for the next 12 to 18 months, has a pan-India launch pipeline of eight to 10 projects.
Source: Business Line
Boisar, Harsh Goenka’s RPG Group, Kalyan, KEC International, Mulund, Mumbai, Tata Housing, Thane, Vadodara, Vasind
