Bombay Dyeing & Manufacturing Company (BDMC), a subsidiary of the Wadia Group, has approved the sale of a 22-acre land parcel to a subsidiary of Japanese realty developer Sumitomo Realty & Development Company for a total of Rs 5,200 crores. The transaction will be completed in two phases, with the first tranche of Rs 4,675 crore and the balance of Rs 525 crore to be received upon meeting certain conditions.
