Olympic Industries to buy Tk 21 crore lands in Gazipur, Narayanganj

Olympic Industries Ltd will spend a total of Tk 21.17 crore to purchase lands in Gazipur and Narayanganj as part of its plan to expand operations. 

According to a disclosure on the Dhaka Stock Exchange website today, the company's board approved the acquisition of four separate plots.

Of these, 460 decimals of land in Kaliganj upazila of Gazipur will be purchased for Tk 13.7 crore from SEAM Agro Foods Ltd, represented by its chairman Nasir Mohammed Helal.

In the same area, the company will also buy 208.5 decimals for Tk 6.3 crore from five individuals.

In addition, Olympic will purchase two plots near its Lolati factory in Sonargaon upazila of Narayanganj.
 
One plot, measuring 25.83 decimals, will be acquired for Tk 90.40 lakh at a rate of Tk 3.5 lakh per decimal.

The second plot, measuring 7.75 decimals, will be bought for Tk 27.13 lakh.

The company said it would also bear all associated registration costs, including VAT, tax, and other charges.

The land acquisitions take place following Olympic's purchase of five plots of land in Narayanganj in April for a cost of Tk 22.25 crore. 

The company reported a net profit of Tk 42.98 crore for the January-March quarter of 2025, marking a year-on-year increase of slightly more than 1 percent.

As of May 31, foreign investors collectively hold the largest portion of Olympic's share at 34.21 percent, closely followed by the sponsor/director group with 32.38 percent. The rest are owned by institutional investors and the general public.