Mastek Ltd plans to sell its commercial building at Mahindra World City, SEZ, Chengalpattu, near Chennai, to Caresoft Mobility Pvt Ltd for ₹60 crore.
The IT company in an announcement to the stock exchanges on Friday night said it has entered into an MoU for selling the commercial building with an approximate built-up area of 1,57,233 sq ft on leased land measuring 15.50 acres at Mahindra World City.
The MoU was signed on Friday with the buyer. The agreement for sale will be signed in due course of time, the announcement said.
The aggregate consideration of ₹60 crores, is to be received in two tranches in accordance with the terms of the said MoU, the announcement said.