Business

AstraZeneca India Considers Selling North Bengaluru Facility for INR 3,200 Crore

A global mandate has been issued to property consultants to oversee the transaction, highlighting the high value of the land—estimated at over INR 50 crore per acre. The site, located in a prime corridor of Bengaluru, has been intermittently available for resale, though previous price expectations had deterred potential buyers, according to real estate experts.

• By Newsdesk
• New Delhi
• Feb 12, 2025

Business

AstraZeneca Pharma India is reportedly planning to divest its 64-acre manufacturing facility in North Bengaluru as part of a strategic reassessment of its global supply chain. The move aligns with its parent company’s broader initiative to optimise operations and monetise corporate land holdings.

Industry sources suggest that the sale could generate over ₹3,200 crore. A global mandate has been issued to property consultants to oversee the transaction, highlighting the high value of the land—estimated at over ₹50 crore per acre. The site, located in a prime corridor of Bengaluru, has been intermittently available for resale, though previous price expectations had deterred potential buyers, according to real estate experts.

AstraZeneca had previously announced plans to keep the facility operational while seeking a buyer that could also function as a contract manufacturing organisation (CMO) for its pharmaceutical products, pending necessary regulatory approvals.

The Bengaluru facility is one of AstraZeneca’s nine global sites dedicated to clinical trials, safety monitoring, and regulatory compliance throughout a product's lifecycle. Established in 1979, AstraZeneca Pharma India operates as a subsidiary of UK-based AstraZeneca Plc, with its Indian headquarters in Bengaluru.

The trend of corporates monetising non-core assets is gaining momentum, particularly in major cities like Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, and Pune. With rising real estate values and strong demand from developers, companies, public sector undertakings (PSUs), and financial institutions are capitalising on the opportunity to unlock capital through land sales.

Prominent developers, including Godrej Properties and Prestige Group, have actively acquired such assets to expand their land banks, catering to the increasing demand for high-end residential and commercial developments. As land prices continue to surge, asset monetisation is expected to remain a key focus for corporates in 2025.