Emami Group Foot Prints In Coimbatore
FMCG major Emami group has got its board’s approval to hive off its real estate arm into an independent entity. The Kolkata-based company, which recently acquired a controlling stake in Zandu Pharmaceuticals, is planning to focus more on its core FMCG business while letting Emami realty chart its course as a completely separate firm. “The board has approved desubsidisation of the realty business.It would work independently. Emami can focus more on its FMCG business,” Emami director Aditya Agarwal said. Asked if Emami was planning to exit from the realty business after spinning off the arms, Agarwal replied in the negative and said Emami realty would continue working on the various projects that it has started. “We have almost 10 projects (commercial and residential) at present. We will continue working on them,” Mr Agarwal said. He, however, declined to share the value of the projects. Emami Realty’s 10 projects comprise four IT parks, three shopping malls and three residential complexes in Kolkata, Coimbatore and Hyderabad.
