Prism Johnson Ltd has greenlit the sale of its premium office premises at Windsor, Mumbai, for a robust ₹166 billion consideration. This non-core asset monetization sharpens focus on cement operations while bolstering liquidity amid strong market demand for commercial real estate.
Deal Essentials
The board approved divesting the Windsor office space, a high-value property in Mumbai's bustling business district. Expected to fetch ₹1.66 billion (₹166 crore), proceeds will fuel working capital and growth initiatives in the company's core building materials segment, reflecting prudent capital allocation.
Key Highlights
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Asset Details: Office premises at Windsor, a landmark commercial hub in South Mumbai, ideal for institutional buyers seeking blue-chip locations.
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Sale Value: ₹1.66 billion locked in, delivering immediate cash inflow without impacting operational continuity.
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Strategic Rationale: Sheds non-core real estate to streamline balance sheet; aligns with sector trend of asset-light models in cement industry.
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Timeline & Impact: Completion expected soon post-regulatory nods; boosts EPS potential and investor confidence in management's efficiency.
This move signals Prism Johnson's agile pivot toward sustainable profitability.
Sources: BSE India (bseindia.com), NSE India (nseindia.com), Prism Johnson Filings