A 12-acre property that belongs to Mohan Breweries at Valasaravakkam here has been bought by SPR Group for Rs. 266 crore.
Mohan Breweries will shift its base to Kancheepuram.
“It was an outright purchase,” said M. Nandagopal, executive chairman, Binny Ltd. Mohan Breweries and Distilleries, belong to the Binny Ltd. Group.
“We will focus more on real estate development and allied areas,” he said.
SPR Group is planning to come up with a housing project at this site.
Hitesh P. Kawad, Managing Director of SPRRG Constructions, refused to comment. SPR Group is a real estate developer. It has a flagship development called Osian Heights at Central Chennai.
