MIRC Electronics Limited Board Approves Redevelopment and Monetization of Key Properties
MIRC Electronics Limited announced that its Board of Directors held a meeting on April 17, 2026, approving significant strategic actions concerning the company's property portfolio. The board reviewed and sanctioned plans for both the redevelopment and sale of an urban property and the monetization of a large land parcel in a district outside Mumbai.During the meeting, the Board addressed the company's property located in Mumbai, known as 'Onida House'. The property, situated in Mumbai and measuring approximately 2,143 square meters, was subject to consideration for redevelopment, sale, or transfer. The Board formally noted that any such redevelopment or transfer would not involve any manpower cuts, and all permanent employees of the company would be relocated to suitable places during the interim period, if required.
The Board also reviewed a proposal concerning the monetization of the company's property located in Lote, District Ratnagiri. This large parcel of land measures approximately 20,004 square meters.
Following the discussions, the Board authorized Mr. Kaval Mirchandani, Managing Director of the Company, to take appropriate actions regarding both properties, subject to the necessary approvals from respective regulatory authorities.
MIRCELECTR Stock Price Movement
Today, shares of MIRC Electronics Limited edged higher, closing at ₹31.59, recording a gain of 0.60%. The stock saw notable activity in the session, with the total traded volume standing at 531,644 shares.Source:
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