**Summary: United Spirits Limited announces the sale of a residential property in Malabar Hills, Mumbai, valued at ₹172 crore.**
### United Spirits Limited Sells Residential Property in Malabar Hills
**Who:** United Spirits Limited
**What:** Sale of a residential property
**When:** Announced on March 30
**Where:** Malabar Hills, Mumbai
**Why:** Part of the company’s strategy to liquidate non-core assets
United Spirits Limited has confirmed the sale of a residential property located in Malabar Hills, Mumbai, for ₹172 crore. The Board of Directors approved this transaction, which includes the property’s furniture, fixtures, and fittings. The residential property consists of three floors, specifically ground plus two upper floors.
“This is to inform that the Board of Directors of the Company today have approved the 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”),” stated United Spirits in their exchange filing.
### Buyers of the Property
The buyers, Ajaykumar Dineshkumar Vaghani and Manisha Ajay Vaghani, are not affiliated with the company’s promoters, promoter groups, or any group companies.
### Company Background
United Spirits is a subsidiary of Diageo, headquartered in Bengaluru. The company is currently in the process of liquidating non-core assets previously owned by business tycoon Vijay Mallya, who resigned as Chairman of United Spirits in 2015.
### Interim Dividend Declared
On March 27, the Board of Directors also approved an interim dividend of ₹4 per equity share with a face value of ₹2 for FY25. The record date for determining shareholder eligibility has been revised to April 3 from the previously announced April 2.
“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 noted in a separate exchange filing.
### Conclusion
With the sale of this prime property and the declaration of an interim dividend, United Spirits Limited is taking significant steps in its financial strategy. How will these moves impact the company’s future growth?
### FAQ
**What is the value of the residential property sold by United Spirits Limited?**
The residential property in Malabar Hills was sold for ₹172 crore.
