vishnuvega
24-06-2008, 06:50 AM
Nusli Wadia-led biscuit major Britannia Industries is believed to be exploring the possibility of selling its much-storied corporate headquarters in Bangalore.
Multiple sources confirmed that internal discussions to this effect have taken place in recent months, and the company appears to have sounded off real estate consultants to quietly scout for potential suitors.
Sources said one of the options being mulled was to shift the corporate office to Mumbai, where the Wadia Group is based. While Britannia has not given any active mandate to sell the 6-7 acre freehold property, analysts said the campus located on the city’s arterial old airport road, leading to the IT corridor, may fetch as much as Rs 35 crore per acre.
Multiple sources confirmed that internal discussions to this effect have taken place in recent months, and the company appears to have sounded off real estate consultants to quietly scout for potential suitors.
Sources said one of the options being mulled was to shift the corporate office to Mumbai, where the Wadia Group is based. While Britannia has not given any active mandate to sell the 6-7 acre freehold property, analysts said the campus located on the city’s arterial old airport road, leading to the IT corridor, may fetch as much as Rs 35 crore per acre.