14
Sep
Wadia Group subsidiary Bombay Dyeing and Manufacturing Company (BMDC) on Wednesday approved a proposal to sell a parcel of around 22 acres of land in Mumbai's Worli to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo, for Rs 5,200 crore. This is Mumbai's biggest land deal in terms of value. The entire transaction with Sumitomo will be completed in two phases with the first phase worth Rs 4,675 crore. The remaining Rs 525 crore will be received by BDMC upon fulfillment of certain conditions and execution and completion of certain contracts for the second phase. The group has currently…
