Everest Industries Limited update on sale of land at Podanur to G Square

On October 26, 2025, the Ministry of Environment, Forest and Climate Change (MoEF & CC) has granted the needed amendment in the Environment Clearance (EC) with respect to the reduction of Everest Industries Limited's land area. Therefore, the timelines for execution of the sale deed mentioned in the term sheet shall be read accordingly and the second tranche of payment of consideration by G Square Realtors Private Limited (G Square is one of the top real estate developer in Tamil Nadu) will now be received by the Company.

The execution of sale deed should be completed within 4 (four) months from the date of execution of the Term Sheet or 3 months from the date of receipt of Environmental Clearence whichever is later. Further, the timelines can be extended by the Parties before the expiry of term based on mutual consent.

Total consideration for sale of land is Rs. 133,85,68,000/- (Indian Rupees One Hundred and Thirty-Three Crores Eighty Five Lakhs SixtyEight Thousand Only) payable in 3 tranches.

The Company has received first tranche of Rs. 7 crores on signing of term sheet i.e. on August 28, 2025. The second tranche of Rs. 8 crores is payable on receipt of Environmental Clearence Amendment. The balance consideration of Rs. 118,85,68,000/- (Indian Rupees One Hundred and Eighteen Crores Eighty Five Lakhs Sixty Eight Thousand only) shall be payable on the execution of the Sale Deed.

Shares of Everest Industries Limited was last trading in BSE at Rs. 616.35 as compared to the previous close of Rs. 647.30. The total number of shares traded during the day was 583 in over 112 trades.

The stock hit an intraday high of Rs. 645.05 and intraday low of 615.00. The net turnover during the day was Rs. 362095.00.

Source : Equity Bulls

Keywords

EverestIndustries INE295A01018 LandSale Podanur GSquareRealtors