Land given up for sale by Crompton Greaves
Recently, it has come to our notice that Crompton Greaves has given up some of its land for sale. Located in the eastern suburbs of the city and called LBS Marg, the deal should be announced with a period of 10 days. The vital piece of information was given away by the consultants of the property.
Around 8-10 acres of the land are up for sale at the moment. There is about 32-34 acres of land and should be bought at a large sum of money. The company had also said in one of the email responses that it is a policy of the company to not reply to any kind of rumours concerning the market.
During the analyst meeting, the analysts also said the Crompton Greaves company has now been making plans to move their power transformer factory from Mumbai to the state of Gujarat. However, the international operations of the company don’t have a sharp memory. Since the power business gives away about 60% to the revenue of the company, the industrial system gives 15% and the consumer products section around a 20%.
Source - Joydeep Ghosh & Aneesh Phadnis
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