Crompton Greaves has informed that as a part of its continuous asset optimization initiatives, the Board of Directors of the Company has approved entering into a definitive agreement for sale of a portion of Company’s land parcel situated at Kanjurmarg, Mumbai admeasuring approximately 53,000 sq. meters to Evie Real Estate Private Limited for an aggregate sum of Rs 496.48 crores.
The above information is a part of company’s filings submitted to BSE.