The Tk 8.91 crore worth of plots are located inside Purbachal Probashi Palli project
Leading local biscuit maker Olympic Industries is all set to purchase 54 plots worth Tk 8.91 crore inside Purbachal Probashi Palli project.
The plots of three-katha each were bought as the price tag of Tk 5.5 lakh each katha seemed reasonable to the company, Mintu Kumar Das, company secretary of Olympic Industries, told The Daily Star.
However, the board of the company is yet to decide how the land will be utilised in future, he said.
Olympic Industries will bear the registration costs along with value-added tax and other charges of the 162 kathas of land, Das said.
Olympic Industries’ revenue fell 4 percent year-on-year to Tk 652.49 crore in the October-December quarter of the current fiscal year.
However, the company was able to post a slight rise in net profit, which hit Tk 59.1 crore in the second quarter of 2023-24 fiscal year, up from Tk 58.61 crore in the same period previous year.
The company’s earnings per share also posted a small rise to reach Tk 2.96 from Tk 2.93 respectively in the same period of two consecutive years.
Earlier in March of 2023, Olympic bought an 86-decimal land keeping its future expansion plan in mind.
The listed company spent Tk 2.75 crore to purchase the land at Lolati of Sonargaon upazila in Narayanganj, which is located just behind its biscuit and confectionery unit.
olympic industries plot buy purbachal