Man Industries Enters Strategic Land Deal in Navi Mumbai, Eyes ₹7.2-7.7 Billion Monetization

Man Industries (India) Limited has announced that its wholly-owned subsidiary, Merino Shelters Private Limited, has entered into a Deed of Assignment for a land parcel in Navi Mumbai. The agreement involves granting development rights to Paradise Green – Spaces LLP, part of the renowned Paradise Group. The deal includes an upfront payment of ₹70 crores and a share of the developed property, which is expected to yield a total monetizing value of approximately ₹7.2-7.7 billion over five to six years. This strategic move underscores Man Industries' efforts to optimize its assets and enhance shareholder value.

 

Source: BSE India Press Release