Cotton Manufacturer Ashima Ltd Enters Real Estate Business
Ashima Ltd, one of India’s leading cotton manufacturers, plans to expand its business horizonand has decided to adopt a new line of business. Ashima Ltd intends to enter into Real Estate business, the company intimated via a regulatory filing.
It plans to develop properties and deal with real estate assets. The company added that it has its own land, and can identify new lands for development purposes.
The company will be able to manage this new business line with required expertise, skillset and resources. It is also confident that the company shall be able to establish a profitable real estate business. The company further informed that it is planning to earmark initially approximately Rs40cr from its internal cash resources into this new venture.