Godrej Agrovet with Godrej Properties to co-develop 100 acres

Godrej Agrovet with Godrej Properties to co-develop 100 acres
15/06/2016 , by , in News/Views

Godrej Industries’ subsidiary Godrej Agrovet Ltd’s board has approved monetisation of its 100 acre land in Bengaluru through joint development with group company Godrej Properties.

In a BSE filing, Godrej Industries informed that “the board of directors of Godrej Agrovet Ltd (GAVL) at its meeting held today has granted approval for joint development by GAVL and/or its subsidiaries of land/s admeasuring approximately 100 acres, at Sarajpur, Bengaluru with Godrej Properties Ltd, the developer”.

As GAVL has not been carrying out any operational activity on the land for a long time and the land is available for alternate use, the board believed that GAVL would benefit through such asset monetisation by way of joint development on this land with the expertise of Godrej Properties.

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