Indoco Remedies purchase land parcel in Mumbai; share gains

Indoco Remedies: The pharma company said its Committee of Executive Directors has approved the purchase of 2,860.75 square meters of land parcel at Mahal Industrial Estate, in Andheri, Mumbai Suburban, from an unrelated third-party seller, Saldanha Realty and Infrastructure LLP, for the company's expansion plans. The said land was previously held by the company on leasehold rights.

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26 Aug, 2025 12:21

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Indoco Remedies share price rose a percent in the early trade on March 13 after the company purchased a land parcel in Mumbai from Saldanha Realty and Infrastructure LLP.

At 9.32 am, Indoco Remedies was quoting at Rs 340.85, up Rs 3.40, or 1.01 percent, on the BSE.

At a meeting on March 12, the committee of executive directors has approved the purchase of land, which was previously held by the company on lease, and measuring 2,860.75 square meters in Mahal Industrial Estate in Mulgaon village in Andheri from Saldanha Realty and Infrastructure LLP,  the company said in a release.

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On March 1, the company's wholly owned subsidiary Warren Remedies Private Limited commenced commercial production from its greenfield manufacturing facility in Aurangabad to manufacture oral care products.