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Zee Entertainment Enterprises Ltd (ZEEL) has sold a 28,221 sq ft property in Hyderabad's Jubilee Hills for INR 99 crore to Adman Creatives, as part of its strategy to monetize non-core assets and strengthen its balance sheet following the failed Sony merger. Originally tied to Padmalaya Studios, the property was designated for entertainment purposes. The sale reflects Zee's broader efforts to improve cash flows amid Hyderabad's booming real estate market, where property rates in Jubilee Hills surged 35.88% year-on-year. This divestment highlights the company's focus on streamlining operations while Hyderabad continues attracting major corporate investments.
Zee Entertainment Enterprises Ltd (ZEEL) has sold a property in Hyderabad's upscale Jubilee Hills area for INR 99 crore. The transaction, registered on April 22, 2025, is part of the company's ongoing efforts to monetize non-core assets and strengthen its financial position. Advertisement
The property, with a total built-up area of 28,221 square feet, was acquired by Adman Creatives, a Hyderabad-based limited liability partnership operating in the "community, personal, and social services" segment. The sale agreement was registered with the Telangana government authorities.
Originally, the land was allocated in November 1983 to Padmalaya Studios Private Limited at INR 8,500 per acre, with the stipulation that it be used solely for establishing a film studio. Padmalaya Studios later sold 17,639.6 square meters of the land to Zee Entertainment. The property includes five car parking spaces and is designated for entertainment purposes.
This divestment aligns with Zee Entertainment's strategy to improve cash flows and balance its books, especially following the failed merger with Sony. The company has indicated plans to monetize real estate and other non-core assets to streamline operations and support its turnaround efforts.
Jubilee Hills, located between Banjara Hills and the Hi-Tech City, is known for its premium residential properties and proximity to commercial and entertainment hubs. In 2024, the area saw 152 sale transactions, with a gross sales value of INR 237 crore. As of the fourth quarter of 2024, the average property rates in Jubilee Hills hovered around INR 14,346 per square foot, marking a 35.88% year-on-year increase.
In related real estate news, Microsoft Corporation purchased 25 acres of land for INR 181.25 crore in Mekaguda near Hyderabad last year. Additionally, Facebook renewed its lease for 3.7 lakh square feet of office space in Hyderabad, agreeing to a monthly rent of INR 2.8 crore across two separate transactions.
These transactions indicate a robust real estate market in Hyderabad, with significant investments from major corporations. The sale of Zee Entertainment's property in Jubilee Hills reflects the company's strategic shift towards focusing on its core business operations.
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