Harig Crankshafts agrees to sell Noida property for Rs 65 crore

Harig Crankshafts Limited has agreed to sell its 22,343.10 sq. property at C-49, Noida Phase-II for Rs 65 crore, with completion expected on December 30, 2026. Harig disclosed on November 2, 2026 that the property contributed no turnover, revenue or income during the last financial year.

What has Harig agreed to sell?

Harig has agreed to sell a property at C-49, Noida Phase-II, Noida, Gautam Budh Nagar, Uttar Pradesh 201305, with a disclosed total area of 22,343.10 sq. The November 2, 2026 announcement does not specify the measurement unit represented by “sq.”

Harig’s board approved and executed the agreement to sell at its meeting on November 2, 2026. The board meeting began at 3:00 p.m. Indian Standard Time and concluded at 4:00 p.m. Indian Standard Time, according to the company’s disclosure.

The disclosure identifies the asset as a property rather than as an operating unit, division, subsidiary or associate company. In Annexure A, Harig reported that the property contributed no turnover, revenue or income during the last financial year.

How much will Harig receive from the sale?

Harig disclosed sale consideration of Rs 65 crore for the Noida Phase-II property. The agreement was entered into on November 2, 2026, while the company has set December 30, 2026 as the expected completion date.

The November 2, 2026 filing does not provide a split between advance and balance consideration, nor does it disclose taxes, transaction costs or net cash proceeds. Harig also did not state the property’s book value, the expected accounting gain or loss, or the intended use of the Rs 65 crore consideration.

The filing provides a direct contrast between the property’s last-financial-year contribution and the agreed disposal value: the property generated no turnover, revenue or income, while its disclosed sale consideration is Rs 65 crore. Harig did not provide company-wide revenue or net-worth figures in this announcement, preventing a broader comparison.

Who is buying Harig’s Noida property?

Harig identified M/s Sahu International Attire Private Limited as the buyer of the 22,343.10 sq. Noida Phase-II property. The company said on November 2, 2026 that the buyer does not belong to Harig’s promoter or promoter group.

Harig also stated that the Rs 65 crore transaction is not a related-party transaction. Because the company answered “No” to the related-party question in Annexure A, it did not provide an arm’s-length assessment for the agreement dated November 2, 2026.

The announcement does not disclose the buyer’s business activity, ownership structure, funding arrangements or payment timetable. It also does not disclose conditions precedent, registration requirements or other contractual terms between the November 2, 2026 agreement date and the December 30, 2026 expected completion date.

When is Harig’s property sale expected to close?

Harig expects the sale or disposal to be completed on December 30, 2026. This is the company’s expected completion date after the agreement was executed on November 2, 2026.

The December 30, 2026 date is a target for completion rather than confirmation that the disposal has closed. Harig’s November 2, 2026 disclosure reports board approval and execution of the agreement, and does not report completion of the sale.

Harig did not disclose any regulatory approvals, lender consents, title-transfer milestones or termination provisions associated with the December 30, 2026 timetable. The filing therefore establishes the planned date but does not set out the steps required before the property transaction is completed.

Did Harig obtain shareholder approval for the sale?

Harig stated that shareholders approved the sale of the property at an Extra-Ordinary General Meeting held on December 7, 2024. The company repeated that approval in its November 2, 2026 announcement on the agreement with M/s Sahu International Attire Private Limited.

The board approval and execution on November 2, 2026 came after the December 7, 2024 shareholder meeting. Harig did not disclose the wording of the shareholder resolution, voting results or whether any additional shareholder approval was obtained for the Rs 65 crore agreement.

Harig described the transaction as outside a scheme of arrangement when responding to the applicable disclosure item. It also marked slump-sale disclosures as not applicable, meaning the November 2, 2026 filing does not present the disposal of the 22,343.10 sq. property as a slump sale.

Conclusion

Harig has signed an agreement to dispose of a 22,343.10 sq. Noida Phase-II property for Rs 65 crore, despite the asset contributing no turnover, revenue or income in the last financial year. The company identified M/s Sahu International Attire Private Limited as buyer and said the transaction is neither with its promoter group nor a related-party transaction.

The next disclosed milestone is the expected December 30, 2026 completion date. The key item to watch is whether Harig confirms that the sale has closed and consideration under the November 2, 2026 agreement has been received.