Dadex Eternit to Sell Manghopir Property to AKD for Rs800 Million

Dadex Eternit followed its earlier property disposal with a second one. The Karachi building materials maker agreed in June 2026 to sell its Manghopir property to Aqeel Karim Dhedhi for Rs800 million. Coming on top of the Rs1.85 billion PECHS sale agreed earlier in the year, it shows the company is steadily turning real estate into cash.

What the Dadex Manghopir sale involves

Dadex Eternit agreed to sell its property at Plot No. Deh-22, Manghopir, Karachi, to Mr Aqeel Karim Dhedhi, a well-known Karachi investor, for Rs800 million. The disposal had already received shareholder approval but remained subject to completion of procedural corporate and regulatory formalities, the standard conditions for this kind of deal. This is a different property from the PECHS Block 6 plot that Dadex agreed to sell earlier in 2026 for Rs1.85 billion, so the two are separate transactions rather than a single deal being restated.

Why a second asset sale matters

Taken together, the two property sales add up to Rs2.65 billion in agreed proceeds, a very large figure next to Dadex's annual revenue of under Rs800 million. For a company that has been losing money, raising this much from non-core assets can clear debt, rebuild working capital, or simply give management breathing room. The pattern of selling more than one property suggests a deliberate effort to shore up the balance sheet rather than a one-off. The caution is the same as before: selling land does not by itself make the core pipes and building materials business profitable, and once the saleable property is gone, the company has to stand on its operating earnings. Depending on the book value of the Manghopir plot, the sale may also produce an accounting gain or loss.

Which stocks, and why

This is a direct, company specific event for Dadex Eternit, and the read is positive. An Rs800 million inflow, on top of the earlier Rs1.85 billion deal, materially improves the cash and debt position of a small, loss-making company. It is marked at a high influence level because the combined proceeds are large relative to the business and can reshape the balance sheet. The lasting effect on cash and debt is why the longevity is long, even though each sale is a single event.

What to watch

The signals to track are whether both property deals actually close, since each was still subject to formalities, and how the company deploys the combined proceeds, especially any debt repayment. The key question for the long term is whether the core building materials operation can return to profit, because the asset sales provide cash but not a fix for the underlying business.