Emami Infra to merge Zandu Realty with self to unlock value, fund projects

While Zandu Realty has been stagnating, Emami currently has eight projects valued at Rs 4,500 cr

Emami Group, the diversified conglomerate based from this city, has decided to consolidate its realty arm into a single listed entity, to unlock value and raise funds from the market to fund its ongoing projects.

Zandu Realty (ZRL) is being merged into Emami Infrastructure (EIL). Over the years, while ZRL, its subsidiary, had stagnated in implementation of new construction, EIL has been on a project construction track and is currently implementing as many as eight projects, entailing an investment of Rs 4,500 crore. Girija Choudhary, director and chief finance officer of EIL, says the merger will imply a flow of