Group Related News

Swan Mills Developing Residential, Commercial In Mumbai

Swan Mills Ltd has clarified with regard to news appearing in a business portal that the company is developing two properties in Mumbai into residential and commercial complexes and expected to be completed by March 2009, as given in the article. But as regards the Sewri project, around 70 per cent area has been sold till date and not completed as the portal states.

The company is also in the process of acquiring an existing structure in Ahmedabad, which can yield around 5 lakh salable square feet for commercial redevelopment. The property has been acquired by a SPV registered in Gujarat.

The company has also acquired land in Ahmedabad with a plan to put up a textile fabric-processing unit.

In Goa, Swan Mills has entered into an agreement to acquire 100 acres from private owners to develop Special Sector - IT SEZ, but the project is in the initial stage.

At the close Swan Mills share were up by 4.96 per cent at Rs 129.05. Source: The Economic Times , Mumbai << Back