Binny Ltd plans to sell 600 acres of its windmill lands in Tamil Nadu for a total consideration of ₹36 crore.
In a communication to the Bombay Stock Exchange, the company said at a meeting held on Thursday, the board approved the proposal for sale of the lands located at Perungudi and Veppilangulam villages in Tirunelveli district at ₹6 lakh per acre.
The announcement comes after the board on June 18 approved the company’s proposal to develop its 12.43 acres of land located in Valasaravakkam, Chennai into residential apartments on Joint Development with Radiance Realty Developers India on Revenue Sharing Model.
The company’s share price on the BSE closed at ₹232.65, down 0.73 per cent.