Non-bank lender Piramal Enterprises Ltd on Thursday (September 26) said its wholly-owned subsidiary Piramal Capital & Housing Finance Ltd (PCHFL) has sold its immovable property located in Santacruz East, Mumbai, to Shoquba Realty Private Ltd for a total consideration of ₹187 crore.

“…we wish to inform you that Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of the company, has sold its immovable property comprising of land & building situated at Santacruz East,

Mumbai for a total consideration of ₹187,00,00,000 to Shoquba Realty Private Limited (Purchaser) vide deed of conveyance dated 26th September 2024 entered into between PCHFL and the Purchaser (Transaction),” according to a stock exchange filing.

The sale formalised through a deed of conveyance on September 26, 2024, includes both the land and building assets. The transaction does not fall under the category of a related party transaction.

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Piramal Enterprises reported a standalone net profit of ₹228 crore for the quarter ending June 30, 2024 (Q1FY25). The diversified non-banking financial company’s profit dropped by over 60% from ₹577 crore in the year-ago period. The company’s revenue from operations in Q1FY25 came in at ₹545.20 crore, compared to ₹1,150.39 crore in the year-ago period.

The net interest income (NII) dropped by over 63% to ₹348.2 crore in the quarter, compared to ₹949 crore in the year-ago period. The company’s total assets under management (AUM) rose 10% YoY to ₹70,576 crore, as per its investor presentation on exchanges.

Shares of Piramal Enterprises Ltd ended at ₹1,087.00, up by ₹19.00, or 1.78% on the BSE.

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