Business Update13 Nov 2025, 08:01 pm
Nicco Parks & Resorts Ltd. to Lose 1.46 Acres of Land in West Bengal
AI Summary
Nicco Parks & Resorts Ltd. has announced that the State of West Bengal has decided to repossess a portion of the land leased to the company, which was used to operate a portion of the 'F & B and other Recreational Activities' segment of the Company’s business. The repossessed land generated INR 700.25 lakhs of the Company’s turnover, which is 9% of the total turnover of the Company, based on the consolidated financial statements of the Company for the financial year ended 31 March 2025. The company stated that such repossession of land will not have any impact on the net worth of the company except for the value of certain depreciated assets which are not quantifiable.
Key Highlights
- Nicco Parks & Resorts Ltd. to lose 1.46 acres of land in West Bengal
- The land was used for 'F & B and other Recreational Activities' segment of the Company’s business
- The repossessed land generated INR 700.25 lakhs of the Company’s turnover
- The turnover from the repossessed land is 9% of the total turnover of the Company
- The repossession of land will not have any impact on the net worth of the company except for the value of certain depreciated assets which are not quantifiable