Excel Inds signs Rs 16cr realty deal

Excel Industries today executed a development agreement in respect of the plot of land at Amboli, Andheri with Oberoi Constructions for a consideration of Rs 16.10 crore.

According to a release issued to the BSE today, the company had earlier signed a memorandum of understanding for a consideration of Rs 17.50 crore.

"On the basis of actual survey of the company's land and the property records and since the company has chosen to retain and take away some of the plant structures, the final consideration amount has been determined at Rs 16.10 crore," the release added.