Home / Knowledge / News / Textiles / India bulls acquires NTC plot for Rs 15.05 bn
India bulls acquires NTC plot for Rs 15.05 bn
Aug '10
Realty firm India bulls Intrastate, quoted the highest price of Rs 15.05 billion, and has succeeded all others in acquiring the National Textile Corporation's (NTC) 8.3 acres plot of Bharat Textile Mills at Worli in Mumbai. The price paid for this acquisition is even higher than double the price of Rs 7.5 billion, the reserve price fixed by NTC for e-auction.

This is for the second time that India bulls acquires NTC land, as earlier it had even won the bid for other properties of NTC, such as the Poddar Mill plot at Worli measuring 2.3 acres for Rs 4.74 billion as against the reserve price of Rs 2.75 billion.

NTC Chairman, K Ramachandran Pillai, said that, India bulls has won the online bid for Bharat Mills and it has beaten Lodha Group who had offered a price of Rs 15.03 billion for acquisition.

NTC is intending to increase its capital of about Rs 80 billion, during the current fiscal, via sales of its plots, which in all measure around 55 acres and are mainly located in Mumbai.

The next plot to go up for sale in Mumbai, by NTC, will take place in September. Till then and within the next 10 days, NTC is likely to auction two of its plots in Bangalore and Indore, measuring 1.73 acre and 16 acres, respectively.

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Deepak Jain

We are using Facebook and Instagram to promote ourselves

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Giorgio Mantovani
Corman S.p.A

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search