Milk Food Ltd. Sells Moradabad Plant Land for Urban Housing Expansion

Milk Food Ltd. has announced the sale of its 21-acre Moradabad plant land for INR 140-150 crore to a reputed developer for residential development. The sale supports the company's growth efforts in the ice cream, cheese, and butter markets while aiding Moradabad's urban expansion.

In a strategic move announcing its intentions for diversification and growth, Milk Food Ltd. has sold its 21-acre Moradabad plant land to a reputed developer for an estimated INR 140-150 crore. The site is set to transform into a modern residential colony, bolstering Moradabad's urban development plans.

The Moradabad plant, crucial to Milk Food Ltd.'s daily operations by processing 5 lakh liters of milk from Mother Dairy, will see a redirection of its workforce to the Patiala plant or integration into new ventures. This sale coincides with Milk Food Ltd.'s aim to explore opportunities in the burgeoning ice cream, cheese, and butter markets, indicating a shift in focus to maintain its competitive edge in the dairy sector.

Sudhir Avasthi, Managing Director of Milk Food Ltd., expressed excitement about this transformative phase that promises financial stability through the elimination of debts, fueled by the sale proceeds. Meanwhile, the Moradabad Development Authority's acquisition of the land aligns with strategic urban planning objectives to accommodate the city's growing needs.

(With inputs from agencies.)