Key Highlights
- ITI Limited completed the sale and registration of around 21 acres of land at K.R. Puram Bengaluru.
- The total sale consideration for the transaction stands at ₹914.31 crore.
- The buyer is the Central Goods and Services Tax Department Government of India.
- ITI repaid ₹902.81 crore of fund-based borrowings to its consortium of lending banks.
- The mortgage over the land parcel was released after repayment and receipt of No Objection Certificates.
- The sale deed was executed on July 2 2026 following registration with the appropriate authority.
ITI Limited has completed the execution and registration of the sale deed for approximately 21 acres of land located at K.R. Puram, Bengaluru, in favour of the Central Goods and Services Tax (CGST) Department, Government of India. The company disclosed the development in a regulatory filing dated July 3, 2026.
The transaction, valued at ₹914.31 crore, relates to a land parcel that had earlier been proposed for acquisition by the CGST Department. ITI Limited had previously informed the stock exchanges on January 29, 2026, about receiving the Earnest Money Deposit (EMD) from the government department for the proposed acquisition.
Loan repayment enabled completion of transaction
According to the company, the land parcel formed part of immovable properties mortgaged in favour of SBICAP Trustee Company Limited, acting as security trustee on behalf of the consortium of lending banks.
Out of the total sale consideration, ITI Limited repaid ₹902.81 crore towards its fund-based borrowings. The remaining amount accounted for Income Tax TDS of ₹9.14 crore and NLMC charges of ₹2.36 crore associated with the proposed acquisition.
Following the repayment, the consortium of lending banks issued No Objection Certificates. SBICAP Trustee Company Limited subsequently executed a release deed on July 19, 2026, removing the mortgage and charge over the land parcel, enabling the transfer of clear and marketable title.
Sale deed executed on July 2
ITI Limited stated that it executed the sale deed on July 2, 2026, in favour of the CGST East Commissionerate, Bengaluru, for a total consideration of ₹914.31 crore. The transaction was also registered with the appropriate state local authority, completing the transfer of the approximately 21-acre property situated at K.R. Puram, Bengaluru.
The company noted that the transaction follows disclosures made earlier in its audited financial results for the quarter and financial year ended March 31, 2026.
