This Small-Cap Pharma to Unlock Rs 279 Crore in Cash from Mumbai Property Sale
Unichem Laboratories' decision to sell its Mumbai property boosts investor confidence as stock hits day's high of Rs 635.10, up 4.66 per cent. The buyer in this transaction is Macrotech Developers Limited
Unichem Laboratories, a well-established Small-Cap pharmaceutical company, has taken a strategic step by approving the sale of its land and an old building in Prabhat Estate, Jogeshwari (West), Mumbai. This move is expected to generate Rs 279 crore in cash, creating optimism in the market. The company’s stock reacted positively to the announcement, hitting a high of Rs 635.10, marking a 4.66 per cent increase from the previous closing price.
As per the exchange filing on March 1, 2025, Unichem Laboratories' Board of Directors has greenlit the sale of approximately 3.40 acres of land and an old construction covering around 82,220 sq. ft. The book value of this property stands at Rs 2.18 crore. The buyer in this transaction is Macrotech Developers Limited, which is not affiliated with the promoter group of Unichem Laboratories.
A Memorandum of Understanding (MoU) is set to be signed, with the transaction subject to due diligence and necessary regulatory approvals. The deal is expected to be finalized by June 30, 2025, unless both parties agree to an extension. The entire sale amount of Rs 279 crore will be received in cash, subject to tax deductions at source.
The sale of the Mumbai property is not expected to have any operational impact on Unichem Laboratories. The company had already relocated its registered office to Kandivli (West), Mumbai. This strategic divestment will boost the company’s cash reserves, potentially improving its financial flexibility and allowing it to focus more on core business operations.
Unichem Laboratories reported mixed financial results for the December quarter (Q3FY25). While net profit declined by 20.5 per cent year-on-year (YoY) to Rs 58 crore from Rs 73 crore in Q3 FY24, revenue saw a healthy growth of 14.5 per cent YoY, reaching Rs 533 crore compared to Rs 466 crore in the corresponding quarter last year.
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Founded in 1962, Unichem Laboratories has been a key player in the pharmaceutical sector, specializing in manufacturing formulations and active pharmaceutical ingredients (APIs). The company has built a strong presence in international markets, exporting its products to developed and emerging economies. With a market capitalization exceeding Rs 4,257 crore, Unichem has witnessed a stock price surge of over 17.90 per cent on a year-to-date (YTD) basis in 2025.
Disclaimer: This article is purely for informational purposes and does not constitute investment advice. Investors should conduct their research before making any financial decisions.