JLL Strengthens Navi Mumbai Presence with Second Successful CIDCO Deal

JLL, a leading real estate advisory firm in India, successfully facilitated the sale of a residential asset in Vashi, Navi Mumbai. The property, previously owned by Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), comprised 2160 square meters of land with two structures.

The transaction, valued at INR 53.39 crores (excluding GST), represents DFPCL’s strategic move to offload a non-core asset. JLL, acting as a trusted advisor, secured an exclusive mandate to manage the sale on DFPCL’s behalf.

“JLL conducted a comprehensive marketing campaign and implemented a competitive bidding process to identify the winning buyer,” said Nishant Kabra, Head of Capital Markets (West & North India) at JLL India. “We meticulously evaluated each bid based on various criteria, including financial strength, to ensure the best outcome for DFPCL.”

This successful divestment further cements JLL’s expertise in facilitating asset sales for publicly listed companies and strengthens their dominance in the Navi Mumbai market. Notably, this marks JLL’s second successful transaction involving CIDCO properties in Navi Mumbai within a short timeframe.

Deepak Rastogi, President and Chief Financial Officer of DFPCL, commented, “This divestment aligns perfectly with our strategy of focusing on core businesses like chemicals and fertilizers while strategically monetizing non-core assets. JLL India played a key role in finalizing the transaction with M/s. Future Realty. DFPCL remains committed to investing in its core manufacturing capabilities while maintaining a healthy capital structure. We are confident that our focus on Mining Chemicals, Industrial Chemicals, and Fertilisers aligns with India’s growth trajectory, and DFPCL is well-positioned to benefit from long-term industry trends.”

The press release also highlights the strategic location of the property in Vashi, Navi Mumbai – a well-developed city known for its excellent infrastructure, connectivity, and diverse residential options.