Bombay Dyeing may sell Worli land parcel at Rs 5,000 cr valuation

Japanese conglomerate leads race among the bidders for to land which has a development potential of 2 mn sq ft for commercial purposes, says source

Wadia group firm Bombay Dyeing is in talks to sell a part of its land parcel in central Mumbai’s Worli at a valuation of Rs. 5,000 crore.
 

A Japanese conglomerate is leading the race to acquire the land, which has a development potential of 2 million square feet for commercial purposes, said a source in the real estate industry. Bombay Dyeing, which has  presence in real estate, polyester, and textiles, will use the proceeds to reduce debt and for corporate purposes.
 

The company reported a net debt of Rs. 3,456 crore for the financial year ended March 2023 (FY23) on