Mallcom (India) Ltd: Buyer Exercising Option to Buy Land for ₹270 Million

Mallcom (India) Ltd has said that a purchaser has exercised the option to buy a property of land for ₹270 million. This comes on the heels of earlier talks about the sale of land, in which Mallcom had received an advance payment of ₹27 crore. The company had been weighing whether to sell outright or in partnership, and this action fits into those plans. Sale of this property will be expected to have a positive impact on the cash flows and financial condition of Mallcom. The company is also advancing its expansion activities, such as the Sanand-II unit in Gujarat and the Ghatakpukur unit in West Bengal, to increase manufacturing facilities and cater to increasing demand for its products. 

Source: Business News Today