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Crompton Greaves to sell Mumbai land for $77M

By PTI
16 October, 2015

Crompton Greaves today said its board has approved entering into a definitive agreement for sale of a portion of its land parcel at Kanjurmarg, Mumbai, to Evie Real Estate for an aggregate sum of Rs 496.48 crore.

“As a part of its continuous asset optimisation initiatives, the board of directors of the company has approved entering into a definitive agreement for sale of a portion of company’s land parcel situated at Kanjurmarg, Mumbai…to Evie Real Estate Pvt Ltd for an aggregate sum of Rs 496.48 crore,” the company said in a regulatory filing.

With more than 15,000 employees across its operations in around 85 countries, Avantha Group Company CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.

The company is organised into four business groups — power, industrial, automation, and consumer.


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Crompton Greaves to sell Mumbai land for $77M

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