Gulf Oil consolidates biz portfolio; exits Pharma

After divesting its pharma business last quarter, Gulf Oil Corporation Ltd, a Hinduja Group company, has embarked on a process to consolidate its business covering explosives, lubricants and mining services.

The company is foraying into commercial real estate by tapping into the company’s land bank in Hyderabad and Bangalore following clearances for two projects. It is now considering brining in a strategic partner for the real estate business.

In the last quarter, its Explosives Division registered a 20 per cent growth with significant contributions from Coal India. The Mining and Infrastructure Division registered growth of over 7 per cent supported by expansion activities in the iron ore mining. This Division had an order book of Rs 450 crore.