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Emami plans to list realty division

22 Sep 2009

Kolkata-based diversified Emami Group is likely to list its real estate business once the amalgamation of Zandu Pharmaceutical Works, which it acquired last year, is completed.The real estate division of Emami Ltd will be de-merged into a separate company called Emami Infrastructure.

Zandu does not have a realty division, but has a presence in non-core businesses which include real estate of over 2.4 acres at Dadar in Mumbai. After completion of the restructuring between Emami and Zandu, the latter's name will change to Zandu Realty Ltd, which, in turn, will become a subsidiary of Emami Infrastructure.

Currently, Emami's realty division is undertaking residential and commercial (IT parks, shopping complexes) projects in cities, including Kolkata, Hyderabad, Coimbatore, Ahmedabad and Jhansi.crackcrack

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