Godrej Agrovet gains on monetizing Tamil Nadu-based land parcels worth Rs. 71 crore.

Godrej Agrovet advanced 1.52% to Rs. 488.20 after the company said that it has entered into two sale deeds for transfer of total land admeasuring 3.92 acres situated at Ambattur, Tamil Nadu, for a total consideration of Rs. 71.36 crore.

The company has inked a sale deed with Godrej and Boyce Manufacturing Company (G&B) for transfer of land admeasuring approximately 0.65 acres for a consideration of approximately Rs.11.83 crore. G&B is a part of promoter group of the company.

Godrej Agrovet has entered into a separate sale deed with Minerva Veritas Data Centre for sale of land admeasuring approximately 3.27 acres for a consideration of approximately Rs.59.53 crore.

Godrej Agrovet, part of the Godrej Group, has presence across the animal feed, palm oil, crop protection, dairy and poultry and processed foods segments with about 30 plus facilities and a wide distribution network across the country.

BS