FMCG major Dabur is planning to develop a one-acre IT park in Mumbai but said it has no plans to foray into the sector.
"Dabur has no intentions of entering the IT or real estate businesses at all," Dabur India Group Director P D Narang told PTI.
"A resolution was passed at our AGM with reference to developing one-acre of spare land near Mumbai that the company acquired by virtue of the merger of Balsara group with Dabur India," he added.
The company would be utilising the one-acre plot near Mumbai to set up an IT park in collaboration with local realty players.
"This plot is best suited to develop an IT park and so, Dabur India plans to join hands with local developers to develop this property in order to realise the optimal commercial value for this property in future," he said.
The proposal for setting up the IT park was taken at the company's Annual General Meeting on July 10.
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Narang said the company has not taken any decision regarding the time period for setting up and operationalisation of the IT park or products or services to be available there by firms who set up shop.
"It is too early to comment on these matters," Narang said. He also declined to speak on its investment plans on the project.