Everest Industries Shares Rise 5% on Board Approval of ₹133.86 Cr Sale of Excess Land

Mumbai, August 29, 2025: Everest Industries Limited (NSE: EVERESTIND, BSE: 508906) shares rose 5% in initial trading today. This was after the board approval for the sale of 23.32 acres of surplus land situated in Kurichi Village, Podanur, Coimbatore, for ₹133.86 crore.

Everest Industries Limited, incorporated in 1934 and listed since March 29, 1995, operates in the Other Construction Materials sector. The company manufactures and markets building solutions, including roofing, boards, panels, and pre-engineered buildings. It has a market capitalization of over ₹1,022 crore as of today’s trade.

Board Sanctions Sale to G Square Realtors Pvt. Ltd., ₹133.86 Crore Consideration to Be Paid in Three Tranches 

The board sanctioned by circular resolution on August 28. A term sheet has been signed on a binding basis with G Square Realtors Pvt. Ltd., one of the top developers in Tamil Nadu. The consideration of ₹133.86 crore will be given in three tranches: ₹7 crore already paid on August 28; ₹8 crore pending amendment in environmental clearance; and the remaining ₹118.86 crore at the execution of the sale deed. The transaction is to be completed in four months of signing the term sheet, or three months subject to environmental clearance, extendable by mutual agreement.

Shares Trade at ₹653.95, Up from Previous Close of ₹622.05

Shares of Everest were trading at 653.95 as of 1:53 pm IST, a good intraday gain from the previous close of ₹622.05. The move shows faith in the company’s strategy of selling non-core assets without affecting operations. Everest shares have recorded humble returns of approximately 9.8% in half a year, though still far from the one-year peak, which is indicative of overall cyclical patterns within the cement and building material sector.

Disposal Enhances Liquidity and Supports Asset-Light Approach Without Affecting Ongoing Operations or Strategic Growth Plans

Everest Industries’ decision to sell its surplus land is aimed at boosting liquidity while keeping its day-to-day operations running smoothly. By following an asset-light approach, the company is simplifying its balance sheet and strengthening its cash position. The structure of the deal, especially the large final tranche at closing, will provide a significant cash inflow. This helps reduce the need for refinancing and gives the company flexibility for future selective investments. Partnering with a top local developer also gives Everest an edge. It can tap into the growing real estate demand in Coimbatore, and this strategy could be applied in other regions to monetise agricultural land effectively.

Everest Industries’ sale of surplus land for ₹133.86 crore underscores its focus on an asset-light strategy, improving cash flows and liquidity. Backed by a reputable local developer, the move demonstrates strategic balance sheet management and positions the company to capitalise on real estate opportunities while maintaining operational stability.

REF: https://nsearchives.nseindia.com/corporate/EVERESTINDUSTRIES_29082025110645_SESaleOfLandPodanur.pdf

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