Deals12 May 2026, 04:17 pm
Standard Industries: Dadar Land Development Rights Transferred
AI Summary
Standard Industries Ltd's board approved the assignment/transfer of development rights for its land in Dadar West, Mumbai, to Prabhadevi Developer Private Limited. The developer will construct a residential building on the 1937.30 sq. mtrs land. The consideration includes ₹169,51,41,225 payable in tranches and allocation of 25,774.61 sq. ft. of residential RERA carpet area, including four flats and sixteen car parking spaces, to Standard Industries.
Key Highlights
- Standard Industries transfers Dadar land development rights to Prabhadevi Developer.
- Consideration includes ₹169.51 Cr and 25,774.61 sq. ft. of RERA carpet area.
- Developer will construct a residential building on the land.
- The board also recommended a final dividend of Re. 0.25 per share.
- Khurshed Thanawalla re-appointed as Non-Executive Independent Director.