Everest Industries Ltd Completes Phase I Land Sale at Podanur
Everest Industries Ltd announced the conclusion of the Phase I sale of vacant land located at Podanur, Coimbatore District, Tamil Nadu. The company finalized the execution of a Sale Deed with G Square Properties Private Limited on April 10, 2026.The transaction involved the transfer of 16.84 acres of vacant, excess land situated at Kurichi Village, Podanur, Madukkarai Taluk, Coimbatore District, Tamil Nadu, as per the documents of title / term sheet. This sale was part of a larger area of 23.32 acres of salable land.
The company had previously updated the exchanges regarding the Phase I sale, noting that the sale of approximately 16 acres was anticipated to be completed in April 2026.
Consideration and Sale Details
Details regarding the consideration and other aspects of the sale were provided, outlining the total consideration and the amounts received in various tranches.The total consideration for the sale was Rs.133,85,68,000/-. The consideration received up to the execution date of the sale deed, inclusive of TDS, totaled Rs. 1,00,82,96,161/- (Rupees One Hundred Crore Eighty Two Lakhs Ninety Six Thousand One Hundred and Sixty One only).
The consideration received was accounted for in the following tranches:
- August 28, 2025: Rs. 7,00,00,000/- (Rupees Seven Crore only) on signing of term sheet.
- November 10, 2025: Rs. 8,00,00,000/- (Rupees Eight Crore only) on receipt of Environmental Clearence Amendment.
- April 10, 2026: Rs. 85,82,96,961/- (Rupees Eighty Five Crore Eight Two Lakhs Ninety Six Thousand Nine Hundred and Sixty One only) (including TDS) on completion of Phase I transaction.
The aggregate consideration includes advances received before the execution of the sale deed, consideration received on execution, monetary consideration for land gifted to G Square under a premium agreement, and TDS.
Remaining Disposal Schedule
While 16.84 acres were transferred on April 10, 2026, the company anticipates completing the transfer or sale of the remaining balance portion of land, amounting to 6.48 acres, by November 4, 2026.The buyer for the sale deed was G Square Properties Private Limited, a group company of the G Square group. The company noted that the transaction does not fall under related party transactions.
EVERESTIND Stock Price Movement
On Friday, Everest Industries Limited shares slipped by 0.06% to settle at ₹332.05, marking a slight dip from previous levels. The stock closed amid trading that found support near ₹327.65, following a day that saw a volume of 14,498 shares.Source:
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