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Milk Food sells plant land in Moradabad, eyes high growth segments
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Thursday, 23 January, 2025, 15 : 00 PM [IST]
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Our Bureau, New Delhi
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Milk Food, a dairy company known for its Milk Powders and Pure Ghee, has sold its 21-acre plant land in Moradabad in Uttar Pradesh to a reputed developer for an estimated Rs 140-150 crore. The land, now approved for residential development, will be transformed into a modern residential colony for the city's urban growth.
The Moradabad plant, which processes five lakh litres of milk daily for Mother Dairy on a job-work basis, has been a key operational site for Milk Food. However, the company sees the sale as a strategic move to realign its focus on expanding its product portfolio and entering high-growth segments like ice cream, cheese, and butter.
Sudhir Avasthi, managing director of Milk Food, said, "The sale of our Moradabad plant land allows us to invest in high-growth opportunities like ice cream, cheese, and butter. These ventures will not only strengthen our product portfolio but also enable us to become a debt-free company, ensuring long-term financial stability."
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