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In a major development, Relaxo Footwears Limited, Indias largest footwear manufacturing company, has successfully secured a 30-acre land parcel in Pathredi Industrial Area, Bhiwadi - II, Rajasthan. The land acquisition, valued at approximately Rs. 135 crores, was confirmed through a confirmation letter from the auctioneer, IndusInd Bank.
The land parcel, acquired for future manufacturing needs, is contingent on obtaining customary statutory approvals. Post-approval, the acquisition will be funded through internal accruals. The strategic move aligns with Relaxo Footwears commitment to sustained growth and a proactive response to evolving market demands.
Mr. Ramesh Kumar Dua, Managing Director of Relaxo Footwears, expressed the significance of this land acquisition, stating, "This marks a significant milestone for the company. The 30-acre land parcel in Bhiwadi, Rajasthan, not only provides us with room for expansion but also positions us to respond proactively to the evolving needs of the market. We are confident that this strategic move, aligned with the companys long-term objectives, will contribute to the continued success and growth of the company. Our commitment remains steadfast in providing quality products, with a focus on innovative premium offerings." |
