Transindia Real Estate Limited has announced its financial results for the quarter ended September 30, 2023. Jatin Chokshi, Managing Director, Transindia Real Estate Limited said, “We are delighted to report a stable set of numbers for the quarter ending September 2023. The company is well positioned to grow after delivering various Grade A projects in the past. We are at a juncture where we plan for future growth while maintaining a very healthy balance sheet position. Reduction in revenue during the quarter is primarily driven by lease straight lining impact as per IndAs requirements.
We have classified certain assets as “discontinued operations’ pending divestment to BRE Asia Urban Holdings, which we consider a ‘highly probable’ event. The Company has reported an exceptional gain of ? 96.8 crores on account of business transfer agreement pertaining to the Crane division.”
Transindia Real Estate Limited is one of the key players in the real estate, warehousing, and commercial logistics space in India. The organization has a nationwide footprint of world-class facilities, and its business spans developing, maintaining, and leasing logistics assets to help businesses expand and simplify their global and domestic supply chains. Formerly a division of Allcargo Logistics Limited, Transindia Real Estate Limited is now an independent entity and Allcargo Group company, with capabilities to create synergies for single-window, end-to-end logistic.
