United Spirits sells luxurious residential property for THIS amount in Mumbai’s Malabar Hills | Company Business News

United Spirits Limited has announced the sale of a residential property worth ₹172 crore in Malabar Hills, Mumbai.

In an exchange filing on March 30, the company informed that the Board of Directors had approved the sale of the Malabar Hills residential property. The property has three floors, and the sale includes furniture, fixtures, and fittings.

“This is to inform that the Board of Directors of the Company today have approved sale of a residential property along with the furniture, fixtures and fittings consisting of ground plus 2 upper floors situated at Malabar Hill (“the said Premises”) belonging to United Spirits Limited (“Company”),” United Spirits said in the exchange filing.

Who are the buyers?

Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani purchased the property. The buyers are not connected to the company’s promoters, promoter groups, or group companies.

United Spirits is a subsidiary of the Bengaluru headquartered Diageo. The company is in the process of liquidating the non-core assets owned by business tycoon Vijay Mallya, who resigned as the Chairman of United Spirits in 20215.

Interim dividend declared

On March 27, the Board of Directors approved the payment of an interim dividend of ₹4 per equity share with a face value of ₹2 for FY25. United Spirits also revised the record date for determining shareholder eligibility to Thursday, April 3 from April 2, announced earlier.

“The Board of Directors of the Company at their meeting held today i.e., Thursday, 27th March 2025, has inter alia approved the payment of interim dividend of INR 4 per equity share (face value Rs. 2/- each) for the financial year ending 31st March 2025. The record date for the purpose of determining the entitlement of the shareholders has been fixed as Thursday, 3rd April 2025. The interim dividend will be paid on or after 21st April 2025,” the company stated in a separate exchange filing.