Home / Knowledge / News / Textiles / NTC eyes highest bid of Rs 15 bn for Bharat Textile Mill land
NTC eyes highest bid of Rs 15 bn for Bharat Textile Mill land
Aug '10
It's hardly a few days after, that NTC realized Rs 4.64 billion for its Poddar Mill property, that it is now moving forward to another one-off.

Moreover, it was only yesterday that bidding in respect of its Bharat Textile Mills' plot measuring 8.5 acres, crossed Rs 10.16 billion mark while its reserve price was Rs 7.50 billion. With the closing of its e-auction by today evening, the company officials see the final offer price touching highs of Rs 15 billion.

Bharat Mills provides a built-up area of around 3 lakh square feet; more so, it also has the capacity to offer higher FSI for construction of multiple utilities like IT parks, hotels, hospitals, educational institutions and others. Around seven competitors counting Tatas, Videocon, Oberoi Developers, Piramal and Lodha Group, are now bidding for the Bharat Mills property.

During last week, NTC's Poddar Mill plot measuring 2.3 acres received a maximum bid of Rs 4.64 billion from Indaibulls. It was almost after a year that NTC penetrated in to the market, after it tried selling its Finlay Mills' property at Parel.

As stated by NTC, the funds flowing from the sale of its mill plots will be utilized towards a revitalization scheme of development and diversification. Where the group aims to grow the spinning and weaving activities by two times and it also proposes to establish processing and garmenting units, while broadening its horizons in technical textiles.

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search