Real Estate Transactions
TV-maker Onida looks to monetise real estate assets for brand revival
Onida Electronics plans to monetise a portion of its real estate portfolio to raise funds. The company intends to allocate a part of the proceeds toward reviving its brand to compete in the consumer electronics market.The company is evaluating options for three land parcels, including its 2,143 square meter headquarters, Onida House, in Andheri, Mumbai. Other assets under consideration include a 60-acre manufacturing facility at Wada and a five-acre land parcel at Lote in Ratnagiri. The firm is exploring the sale or redevelopment of these properties, either independently or through partnerships.Onida has discontinued television manufacturing operations at its Wada factory, citing a lack of required scale. The company plans to outsource television production to contract manufacturers while continuing to produce washing machines at its Roorkee plant.
For FY25, Onida had reported about INR 747 Cr in Operating Income and about INR 2 Cr in Net Loss.
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