Everest Industries Concludes Phase I Land Sale in Coimbatore for ₹100.83 Crore

Everest Industries Limited (NSE: EVERESTIND / BSE: 508906), a leading provider of building solutions, has officially announced the completion of the first phase of its land divestment plan in Tamil Nadu. The company successfully executed a Sale Deed on April 10, 2026, transferring a significant parcel of excess land to G Square Properties Private Limited.

Transaction Details: Phase I

The transaction involves vacant, excess land located in Kurichi Village, Podanur (Coimbatore District). While the documents of title specify 16.84 acres, the land size is equivalent to 18.99 acres as per Patta records and 19.41 acres according to the Field Measurement Book (FMB).

Financial Highlights:

Total Phase I Consideration Received: ₹100,82,96,161 (including TDS).

Payment Tranches: The payments were received in stages, starting with ₹7 crore in August 2025, followed by ₹8 crore in November 2025, and a final payment of ₹85.83 crore upon the execution of the sale deed.

Total Deal Value: The overall consideration for the entire land parcel (including the upcoming Phase II) is pegged at ₹133.86 Crore.

This sale is part of a broader agreement to dispose of a total of 23.32 acres of salable land at the Podanur site. The company had previously signed a binding term sheet with G Square Realtors Pvt Ltd, and the final deed was executed with their group entity, G Square Properties Pvt Ltd.

The company expects to complete the sale of the remaining 6.48 acres (Phase II) by November 4, 2026.

The proceeds from this sale of non-core assets are expected to strengthen the company's balance sheet as it focuses on its core building products and steel buildings business.

Shares of Everest Industries Limited was last trading in BSE at Rs. 332.95 as compared to the previous close of Rs. 333.90. The total number of shares traded during the day was 1039 in over 186 trades.

The stock hit an intraday high of Rs. 341.70 and intraday low of 332.00. The net turnover during the day was Rs. 347978.00.

Source : Equity Bulls

Keywords

EverestIndustries INE295A01018 LandSale Coimbatore Phase1 Completion