Suzlon Energy deal detail: Energy sector giant Suzlon Energy has made a big deal. In fact, the company has decided to sell its corporate headquarters ‘One Earth’. However, later Suzlon will lease it once again. This property is related to non-core business and the company intends to monetize it.
what did the company say
Suzlon Energy Limited informed the stock exchanges that the company has signed a conveyance deed with Oi Business Parks Private Limited to sell One Earth, the corporate headquarters of the company. After completion of the sale, the One Earth property will be leased back to Suzlon for a period of five years with licensing rights. The transaction is worth ₹440 crore.
Earlier recently, Suzlon Energy had said that it will acquire 76 percent stake in Renome Energy Services in two phases. The company will buy this stake from Sanjay Ghodawat Group for Rs 660 crore.
share status
Suzlon Energy shares fell 0.3% to close at ₹ 74.26 on Wednesday. Now it is important to see what will be the response of Suzlon’s stock tomorrow i.e. on Thursday. Let us tell you that the stock has climbed 92% so far in the year 2024. At the same time, it has given a return of 208% in a period of one year.
Suzlon Group’s profit almost tripled to Rs 302 crore in the April-June quarter of the current financial year. Its profit was Rs 101 crore in the same quarter of the last financial year. The company’s income also increased to Rs 2,016 crore in the June quarter, which was Rs 1,348 crore in the same quarter of the last financial year. The company had a net cash of Rs 1,197 crore as of June 30. The company has an installed capacity of 20.8 GW of wind power in 17 countries.
