Natco Pharma Limited has announced the sale of a 14.38-acre land parcel, equivalent to 72,358 square yards, located at Mekaguda Gram Panchayat, Nandigama Mandal, Ranga Reddy District, Telangana. The transaction, finalized on November 27, 2024, fetched the company a total consideration of ₹115.57 crore, inclusive of infrastructure costs.
The company clarified that the sold property was not involved in any of its business operations and the transaction will not impact its core activities. The land sale does not qualify as a significant undertaking under Section 180(1)(a) of the Companies Act, 2013.
Natco Pharma emphasized that the buyer is not part of the promoter or promoter group, and the transaction does not fall under related party dealings. Details of the buyer remain confidential as per the agreement. The announcement aligns with Natco Pharma’s strategic initiatives to optimize its asset portfolio.
