Phoenix Mills acquire prime land in Alipore, Kolkata

Phoenix Mills (PML) announced that Palladium Construction (PCPL or Company), a wholly owned subsidiary of PML, has completed the acquisition of a prime land parcel, admeasuring approx. 5.5 acres, in Alipore, Kolkata.

This acquisition marks a significant milestone for the Company as it expands its footprint in the residential segment with a premium development in the prime and exclusive neighbourhood of Alipore, Kolkata.

PCPL has acquired the land parcel at a consideration of Rs. 414.31 crores, including stamp duty. The land is in Alipore and has excellent road connectivity to the key residential and commercial zones of Kolkata. This acquisition provides the Company with a unique opportunity to build a world class residential development of more than 1 million square feet of saleable area.

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