The board has given the approval to sell approximately 3.48 acres out of a total 4.5-acre plot located in Velachery, Chennai, to Canopy Living LLP -- a joint venture between real estate players Arihant Foundations & Housing and Prestige Estates Projects.
This move comes after shareholder approval was secured in May 2025. The company has not disclosed the sale value or expected timelines for completion.
Rane (Madras) is a preferred supplier to major OEMs and Aftermarket in India and abroad. It manufactures various automotive products, viz. steering and suspension systems, brake components, engine components, and light metal casting components. Its products serve a variety of industry segments including passenger vehicles, commercial vehicles, farm tractors, two-wheelers, three-wheelers, railways and stationery engines.
On a consolidated basis, net profit of Rane (Madras) declined 39% to Rs 6.5 crore while net sales rose 6% to Rs 901.3 crore in Q4 March 2025 over Q4 March 2024.