Crompton Greaves to sell land parcel in Mumbai for Rs 496.48 crore

Crompton Greaves has received an approval for entering into a definitive agreement for sale of a portion of company’s land parcel situated at Kanjurmarg, Mumbai admeasuring approximately 53,000 square meters to Evie Real Estate for an aggregate sum of Rs 496.48 crore. The board of directors has taken this step as a part of its continuous asset optimization initiatives.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.