Harig Crankshafts Limited has entered into a definitive agreement to sell its Noida Phase-II property for Rs 65 crore. The transaction, involving a sale to Sahu International Attire Private Limited, is expected to conclude by December 30, 2026. Management clarified that the asset was not revenue-generating, marking this as a strategic move to unlock liquidity without impacting core operations.
Harig Crankshafts Executes Rs 65 Crore Property Sale
Sale Consideration: Rs 65,00,00,000. Expected completion date: December 30, 2026.
Reader Takeaway: Asset monetization provides immediate capital infusion without disrupting core manufacturing operations or revenue streams.
What just happened
Harig Crankshafts Limited has formally signed an agreement to sell its commercial property located at C-49, Noida Phase-II, Gautam Budh Nagar, Uttar Pradesh. The sale involves a total consideration of Rs 65 crore to the buyer, M/s Sahu International Attire Private Limited. The agreement was finalized by the Board of Directors on November 02, 2026.
Why this matters
The sale acts as a significant liquidity event for the company. Because the Noida property was not generating any revenue or turnover for the business, this transaction is viewed as pure asset monetization. It allows the company to convert a static real estate asset into cash, which can be deployed toward core business requirements or balance sheet strengthening.
The backstory
The company previously sought and received formal approval from shareholders to proceed with this sale during an Extraordinary General Meeting (EGM) held on December 07, 2024. By finalizing the agreement now, the company is moving toward the final handover, which is currently slated for completion by December 30, 2026.
Risks to watch
Investors should monitor the final handover process to ensure the transition of ownership meets the December 30 timeline. Additionally, while the company noted this is not a related party transaction, market participants should remain watchful of how the proceeds from this sale are utilized in future quarterly disclosures.
What to track next
The final transfer of title and the receipt of the full sale consideration are the next milestones to look for in upcoming quarterly updates. Investors should assess the impact of this influx of cash on the company's debt profile or capital expenditure plans in the next earnings report.