BUSINESS PROFILE :
Incorporated in 1985, Anant Raj Industries is promoted by Ashok Sarin. The company manufactures and markets ceramic tiles under the brand name `Romano`. The company was declared a sick unit in November 1999 and referred to BIFR. IDBI was appointed the operating agency to initiate a rehabilitation scheme. The package was prepared and implemented under IDBI`s supervision in October 2005. Now infused with a fresh lease of life, the company along with its basic tile manufacturing business has planned a strategic forward integration by diversification into real estate development and construction of buildings. It would explore opportunities for construction of buildings, motels, hotels, residential apartments and development of land for residential and commercial use. Besides, the company plans to achieve an economic scale of production in ceramic tiles manufacturing.
The company (with KLG Systems as an anchor unit) has, along with eleven others, been allotted part of Haryana State Industrial Development Corporation (HSIDC) project for development of the Technology Park at Manesar. Its board of directors has also approved the acquisition of Green Retreat & Motels, a real estate and hospitality company. The company will purchase the entire share capital from Green Retreat`s existing shareholders shortly. The cost of acquiring the equity share capital is Rs 1,096 million approximately. The company has also decided to sell off about 36,014 sq.m of land owned by it in Mathura, Uttar Pradesh. The aggregate sale consideration, which also includes a building, is Rs 189 million.
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