Britannia to unlock HQ's realty value; stock up

NEW DELHI: Shares of Britannia Industries, India’s largest biscuits and bakery company, surged over 2% in a weak market on reports the company has finally decided to unlock value at its sprawling headquarters property in the city.

Britannia is looking to unlock value by turning its corporate headquarters located towards the east of Bangalore into a commercial and residential property.

According to media reports, real estate developers close to Britannia said the going rate for properties at that stretch averages Rs 20 crore per acre, thus valuing the property at Rs 150 crore.

At 11:00 a.m., shares of the company were trading 1.3% higher at Rs 467. The stock hit a high of Rs 469.50 and a low of Rs 465.00.