Dai-ichi Karkaria Limited updates on Kasarwadi Land Deal

Dai-ichi Karkaria Limited has entered into Deed of Conveyance and received the balance consideration towards the sale of the Kasarwadi Land Parcel situated at 105th Milestone, Mumbai-Pune Road, P.O. Kasarwadi Pune 411034.

Total consideration amounted to Rs. 153,50,00,000/- (Rupees One Hundred Fifty-Three Crores Fifty Lakhs Only) and it was paid in the following manner:

- Total advance received so far amounted to Rs. 47,00,00,000/- (Forty Seven Crores Only)

- A sum of Rs. 45,83,66,803/- (Rupees Forty-Five Crores Eighty-Three Lakhs Sixty-Six Thousand Eight Hundred and Three Only) was paid to Axis Bank Limited.

- A sum of Rs. 30,71,11,868/- (Rupees Thirty Crores Seventy-One Lakhs Eleven Thousand Eight Hundred and Sixty-Eight Only) was paid to HDFC Bank Limited.

- Balance sum of Rs.28,80,08,829/- (Rupees Twenty Eight Crores Eighty Lakhs Eight Thousand Eight Hundred Twenty Nine Only) after deducting tax at source i.e. TDS of Rs.1,15,12,500/- (Rupees One Crore Fifteen Lakhs Twelve Thousand Five Hundred Only) was paid to the Company.

Gera Developments Private Limited, Pune is the buyer of the property.

Shares of DAI-ICHI KARKARIA LTD. was last trading in BSE at Rs.276 as compared to the previous close of Rs. 268.35. The total number of shares traded during the day was 17762 in over 237 trades.

The stock hit an intraday high of Rs. 284 and intraday low of 270.6. The net turnover during the day was Rs. 4943976.

Source : Equity Bulls

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