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Suzlon Energy's share prices climbed 1.5% following the Rs 440 crore sale of its corporate office. The stock has tripled in value over the last year due to strategic growth.
Suzlon Energy share prices surged in early trade on September 5, rising 1.5% after the company finalized the sale of its corporate office, One Earth Property, to OE Business Park for Rs 440 crore. At 11:30 am, Suzlon Energy's share price stood at Rs 74.59, down by 1.59% today.
The deal, approved at an extraordinary general meeting in March 2022, includes a leaseback agreement, allowing Suzlon to retain the One Earth property for five years, with rights for sub-leasing. OE Business Park, a special-purpose vehicle owned by funds managed by 360 ONE Alternates Asset Management, facilitated the transaction.
Over the last year, Suzlon Energy's share price has soared over 200%, driven by strong financial performance, reduced debt, and substantial order wins. Sentiments remained optimistic about the company’s prospects, anticipating that Suzlon will continue to secure lucrative public sector tenders, particularly from NTPC, in the coming fiscal years.
Suzlon’s order book hit a record 3.8 GW in Q1FY25, the highest in its history, with plans to commission 5.0-5.5 GW of projects in FY25. The company targets further growth, aiming for 6.5-7.0 GW by FY26 and 8.0-9.0 GW by FY27.
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