Thomas Cook India is planning to sell its land assets across India to meet its working capital requirements. This move is part of its strategy, which include consolidation of work places.
The company has appointed Jones Lang LaSalle, a real estate services firm to help with the monitisation of its land assets as per a report in moneycontrol.
Thomas Cook owns 32 properties aggregating upto 1,26,000 sq ft all over India. The company owns over 60,000 sq ft space in Mumbai and has another 43,000 sq ft in Delhi.
TCIL presently operates in over 101 cities across over 253 locations (including 27 airport counters). The company has overseas operations in Sri Lanka which is a branch of TCIL and Mauritius which is a subsidiary of Thomas Cook (India).
Recently, Thomas Cook raised R184 Cr by selling 12% promoter stake to comply with market regulator SEBI's public shareholding norms.
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