Mumbai, April 3 -- United Spirits Ltd has sold a prime residential property in Mumbai's upscale Malabar Hill for Rs 1.72 billion, as per a regulatory filing by the company.
The property, which includes furniture, fixtures, and fittings, consists of a ground floor and two upper floors. The sale was approved by the company's Board of Directors, and the buyers-Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani-have no ties to the company's promoters or group entities.
United Spirits, a Diageo subsidiary headquartered in Bengaluru, has been divesting its non-core assets, many of which were previously owned by former chairman Vijay Mallya, who stepped down in 2015.
Published by HT Digital Content Services with permission from Construction World.