Eveready to get Rs 72cr from Chennai realty deal

Eveready Industries has signed a deal with Khivraj Tech Park Pvt Ltd (KTPL) to develop approximately 2,20,000 sq.ft. of built-up area on company land at Guindy near Chennai for Rs 72 crore.

According to a release issued by Eveready to the BSE today, Rs 15 crore will be realised upfront, and the balance Rs 57 crore by March 31, 2006 upon execution of a formal agreement of sale.

"The company has already received Rs 51 lakh as earnest money from KTPL to substantiate the expression of interest of KTPL in the proposed sale," the release added.