Premier receives first tranche payment of Rs 27 crore

13 May 2013

Premier currently owns about 68 acres of land at Dombivali after monetization of 150 acres in January, 2013. Out of the existing 63 acres of land, the Indian Railways are in the process of compulsory acquisition of about 26 acres of land for the Dedicated Freight Corridor project being implemented by it. The total amount expected to be received as compensation for such acquisition is about Rs. 100 crore. The Company  has received the first tranche payment of Rs 27 crore towards such acquisition.

Premier currently has a nationwide sales and service network of 55 dealers that is being raised to 100 by December 2012. It is also setting up 200 authorized service outlets all across the country called PASS (Premier Authorized Service Stations) equipped to support the RiO.

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