Zee Entertainment Enterprises Ltd (ZEEL) has reportedly sold its prime real estate asset in Hyderabad’s upscale Jubilee Hills area for Rs 99.3 crore. The transaction, registered on April 22, is part of the company’s ongoing efforts to monetize non-core assets and strengthen its financial position.
According to property registration data accessed by Business Standard, the deal involved the transfer of a 2,227-square-yard (approximately 18,000 sq. ft) land parcel to Hyderabad-based developer Aparna Constructions and Estates.
This property was originally acquired by Zee in 2005-06 during the tenure of founder Subhash Chandra, who had envisioned setting up a regional studio hub in the city. However, the project did not materialize, and the asset remained underutilized.
The divestment comes at a time when Zee is focused on improving its cash flows and balancing its books, especially in the wake of the failed merger with Sony. The company has previously indicated that it would consider monetizing real estate and other non-core assets to streamline operations and support its turnaround efforts.
ZEEL in the third quarter of fiscal year 2025 increased its standalone advertisement expenditure by 36.8%. In the nine months of FY 25 (April-December), ZEEL’s operating revenue from advertising declined by 7 percent to Rs 2,753.6 crore compared with Rs 2,947.5 crore in the last fiscal due to the sluggish festive season. However, the company’s subscription revenue saw an 8 percent jump to Rs 2,939.6 crore. On a quarterly basis, the company ad revenue increased by 4 percent to Rs 940.6 crore in Q3 compared to Rs 901.7 crore in Q2 FY 25. Internationally, the ad revenue in Q3 FY 25 stood at Rs 60 crore while the subscription revenue was Rs 86.6 crore.