• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kolkata, Aug. 21 The board of directors of Kilburn Engineering at a meeting on Monday approved the sale of the company’s property, measuring about 8.32 acres, in Bhandup, Mumbai to Housing Development & Infrastructure Ltd for a consideration of Rs 124.7 crore, according to company sources.

While the company has already shifted part of its operations to a nearby location, it hopes to finalise another site very shortly for relocation of other manufacturing activities, according to Mr Amritanshu Khaitan, Director.

“The company’s operations will continue uninterrupted,” he added.

“Infusion of funds out of the sale proceeds will help smoothly implement the factory relocation estimated to cost Rs 45 crore.”

According to him, the purpose of selling the Bhandup property is to improve the profitability of the company.

“Besides, we would like to increase the capacity with new machinery, which is not possible at Bhandup.”

The company will be left with about Rs 80 crore even after the relocation of the factory to a new site. “This will improve our balance sheet.”

Kilburn Engineering, part of the BM Khaitan Group, is engaged in the manufacture of process equipment for food and chemicals units. It also produces dryers for tea gardens.

During the current year, Kilburn Engineering hopes to post 25 per cent growth in turnover to Rs 80-85 crore.

More Stories on : Restructuring | Real Estate & Construction | Engineering | Maharashtra

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Srichakra launches new range in Ahmedabad

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line