FFBL to Sell 166 Acre Land in Pindi Bhattian

The Board of Directors of Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) in its meeting today approved the sale of its 166 acres of land in Pindi Bhattian to Fauji Foundation.

The cost of this land as per the December 2023 report was Rs. 270 million and fair value was expected at Rs. 500 million. Meanwhile, the forced value of this land was Rs. 375 million as per the report.

This development will have an eligible/minimal impact on FFBL profitability, Topline Securities said in a brief review. The company was earning Rs. 10.3 million in rental income from this property.

The principal objective of the Company is the manufacturing, purchasing, and marketing of fertilizers.

At the time of filing, FFBL’s scrip at the bourse was Rs. 44.75, down 2.06 percent or Rs. 0.94 with a turnover of 8.11 million shares on Friday.