Fauji Fertilizer Bin Qasim Limited Approves Sale of Land to Fauji Foundation The Board of Directors of Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) has approved the sale of 166 acres of land in Pindi Bhattian to Fauji Foundation. This decision was made in a meeting today. As per the December 2023 report, the cost of the land was Rs. 270 million, with an expected fair value of Rs. 500 million. The forced value of the land was estimated at Rs. 375 million.
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This transaction is anticipated to have a minimal impact on FFBL’s profitability. According to Topline Securities, the company was previously earning Rs. 10.3 million in rental income from this property. The principal focus of FFBL remains on the manufacturing, purchasing, and marketing of fertilizers. At the time of filing, FFBL’s share price on the Pakistan Stock Exchange (PSX) stood at Rs. 44.75, marking a decline of 2.06 percent or Rs. 0.94, with a turnover of 8.11 million shares on Friday.
