Patel Integrated Logistics Ltd has informed BSE that the Company has acquired a property comprising of a plot of non-agricultural land admeasuring 7000 sq. yards together with 43,000 sq ft of construction thereon, situated at Survey No. 53B, Dhamangaon, Bhiwandi, District Thane.

The property has been acquired for Rs 1,21,00,000/- (Rupees One Crore Twenty One Lac only) by the Company from the proceeds of the recently concluded preferential offer of Equity Shares and Equity Warrants.

The property is being convened into a state of the art Express Delivery Hub for the goods delivered by the Company and will go a long way in efficient handling of cargo as well as faster delivery to customers. This will be advantageous to the Company especially in it’s express door-to-door delivery service which comprises of speedy delivery of high value items.