Everest Industries gets environmental nod for Podanur land sale

Everest Industries Limited has received the necessary amendment in Environment Clearance (EC) from the Ministry of Environment, Forest and Climate Change (MoEF & CC) on October 26, 2025. This approval, pertaining to the reduction of the company's land area at Podanur, enables the execution of the sale deed for the property.

The total consideration for the land sale is INR 133,85,68,000, payable in three tranches. The company previously received the first tranche of INR 7 crores upon signing the binding term sheet on August 28, 2025. The second tranche of INR 8 crores is now due following the receipt of the Environmental Clearance Amendment, with the balance of INR 118,85,68,000 payable upon the execution of the sale deed.

The buyer for this transaction is G Square Realtors Private Limited, a top real estate developer in Tamil Nadu, and is not a promoter or promoter group company of Everest Industries Limited. The transaction is not a related party transaction.