Nexxus Petro Industries Ltd. Sells Land Parcel in Rajasthan
Nexxus Petro Industries Limited announced the sale of a land parcel in Pali, Rajasthan, on March 30, 2026. The Board of Directors approved the sale of the 3.99-acre parcel located at Khasra No. 555/36 Village: Gajangadh, Kharda Pali, Rajasthan, for a consideration of ₹17,171,000.The company stated that the sale is not expected to impact its operations. The transaction does not constitute a sale of an undertaking or substantially the whole of the undertaking for the company, as defined by the Companies Act, 2013.
The buyers, Mr. Deepak Mahajan and Mr. Abhishek Agnihotri, are individuals residing in Jodhpur, Rajasthan, and are not affiliated with the company's promoters, promoter group, or group companies.
During the last financial year, the land parcel contributed approximately ₹51.75 Crore, or 16.97%, to the company's total turnover of ₹305.04 Crore. The book value of the property in the company’s books of accounts is approximately ₹1.43 Crore. The company’s total net worth was ₹32.26 Crore.
The agreement for sale was executed and registered on March 30, 2026, with the Department of the Sub-Registrar, Land Revenue Records. The sale is expected to be completed on March 30, 2026. The company decided to dispose of the land parcel as it is currently non-operational and is not expected to be used in the foreseeable future.
Table: Details of Sale Agreement
| Particulars | Details |
|---|---|
| Land Area | Approximately 3.99 acres |
| Location | Khasra No. 555/36, Village: Gajangadh, Kharda, Pali, Rajasthan |
| Consideration | ₹17,171,000 |
| Buyers | Mr. Deepak Mahajan and Mr. Abhishek Agnihotri |
| Agreement Date | March 30, 2026 |
| Expected Completion Date | March 30, 2026 |
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