Onida Unlocks Real Estate Value to Drive Corporate Revival

Unlocking Value from Legacy Assets

In a strategic move to strengthen its financial position, Onida Electronics is planning to monetise a part of its real estate portfolio to generate funds for reviving its iconic television brand. The initiative reflects the company’s renewed focus on improving operational efficiency while competing with major consumer electronics brands such as LG, Samsung, Haier and Hisense.

The company is evaluating the monetisation of three prime assets—its 2,143 sq m headquarters, Onida House, in Andheri, Mumbai, its 60-acre manufacturing facility at Wada, and a five-acre land parcel at Lote in Ratnagiri.

Multiple Options Under Evaluation

Onida is considering several avenues for these properties, including outright sale, independent redevelopment and partnerships with developers. A final decision is expected before the end of the current calendar year.

Among the proposals under review is the redevelopment of the Andheri headquarters into an office or IT complex. The Wada property, owing to its strategic connectivity, is also being assessed for conversion into a logistics hub, reflecting the increasing commercial value of well-located industrial land.

Asset-Light Manufacturing Strategy

As part of its restructuring strategy, the company has discontinued television manufacturing operations at its Wada facility and will adopt an asset-light production model by outsourcing television manufacturing to contract manufacturers.

“The Wada factory was being used for contract manufacturing of televisions. We have discontinued those operations and are exiting this business as we could not achieve the scale required, which diverted focus from our core business,” said Gunjan Srivastava, Managing Director and Chief Executive Officer of Onida Electronics.

The company will continue manufacturing washing machines at its Roorkee plant, while television production will now be managed through external manufacturing partners.

Corporate Real Estate Gains Strategic Importance

Onida’s move reflects a broader shift among Indian corporates, where legacy real estate is increasingly being viewed as a strategic financial asset rather than a dormant holding. By unlocking the value of underutilised land parcels, companies are generating capital to strengthen balance sheets, fund expansion and accelerate business transformation.

A recent example is Parle Products, which is redeveloping its oldest manufacturing facility at Mumbai’s Vile Parle into a commercial complex in a project estimated to be worth more than ₹3,900 crore.

Closing Insight

Onida’s strategy underscores the growing role of real estate as a catalyst for corporate transformation. In an era where operational agility and capital efficiency define competitiveness, monetising high-value land assets offers companies an opportunity to unlock liquidity without compromising long-term growth ambitions. The true success of this approach, however, will depend on how effectively the company reinvests the proceeds to strengthen its core business, enhance brand value and create sustainable shareholder value.

By Sana Khan
Executive Editor,
Realty Quarter – Mumbai