TVS Emerald on Monday said that it acquired a 12-acre land parcel on the Thoraipakkam-Pallavaram radial road in Chennai.
According to the company, the land plot holds a development potential of 2.5 million square feet, while it estimated its revenue potential at Rs 2,800 crore.
However, the company did not mention the value at which the land parcel was acquired.
"This marks the third acquisition of land by TVS Emerald in FY25 and follows the acquisition of a 4-acre land parcel earlier this year in Padur, Chennai and a 4-acre parcel in Thanisandra, Bengaluru," TVS Emerald, a fully owned subsidiary of TVS Holdings, said in a statement.
Sriram Iyer, director and chief executive officer of TVS Emerald, said: "This landmark acquisition, reinforces our commitment to strategic growth and market leadership in Chennai and Bengaluru."
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
In another development, TVS Holdings' real estate arm has completed two other acquisitions also of Radial (Phase II) IT Park Pvt. and Radial (Phase III) IT Park Pvt.
As a result, both the entities have become wholly owned subsidiaries of TVS Emerald and consequently step-down subsidiaries of the company.
Last week, TVS Holdings had in an exchange filing said that TVS Emerald has entered into share purchase agreements with both companies. The TVS group's realtor arm has bought the first company for Rs 234.3 crore, while the second one cost it Rs 342 crore.
The company had said at that time that it expects both these acquisitions to enable it "to gain access to new markets, increase market penetration and add new capabilities to its existing line of business, thereby maximising revenue opportunities".
Shares of TVS Holdings closed 1.8% lower at Rs 10,840.90 apiece on the BSE, compared to a 0.64% advance in the benchmark Sensex.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.