Also, TTK Prestige's board has recommended a dividend of Rs 2.50 per share.
Earlier this year, the company announced plans to invest Rs 20 crore to set up a manufacturing facility in Uttaranchal or Himachal Pradesh and implement ERP solutions on SAP platform to cover its manufacturing, sourcing and managing retail stores.
The company is likely to re-invest its real estate proceeds to support the company's entry into newer markets and release new products, TTK Prestige also plans to invest Rs 50 crore in brand building exercise nationally.
The company now plans to establish a separate retail chain for exclusively selling a wide range of modular kitchens involving higher levels of investments. This exclusive kitchen retail chain will be established under the name and style 'Prestige Kitchen Boutique'.