Azad India Mobility inks lease deal with Azad Coach Builders to set up electric bus facility

Azad India Mobility (formerly Indian Bright Steel Co) on Friday said its board has approved a lease agreement with Azad Coach Builders to set up a manufacturing facility for electric buses in Bengaluru.

The lease, effective 1 October 2025, covers land, plant and machinery at Mysore Road, Seshagirihalli, Bengaluru, measuring about 8,094 sq. metres. The site will be used to manufacture bus body components, assemble in-house and imported bus parts, and build fully functional electric buses.

Under the agreement, Azad India Mobility will pay a monthly rent of Rs 25.5 lakh, with a 5% escalation every 12 months. The lease is for five years, with provision for extension by mutual agreement.

 

The arrangement is classified as a related-party transaction, as promoters Bupinder Singh Chadha and Chamjit Singh Chadha are directors in both entities. The company said the deal was executed on an arms length basis.

Azad India Mobility said the leased facility will provide dedicated space and legal certainty to expand operations in the electric mobility sector. With a capacity to manufacture up to 1,500 buses annually, the unit is expected to strengthen the companys position in Indias growing green transport market.

Azad India Mobility is engaged in the business of manufacturing of electric buses.

On a consolidated basis, Azad India Mobility reported net profit of Rs 0.07 crore in Q1 June 2025 as against net loss of Rs 0.17 crore in Q1 June 2024. Net sales were reported at Rs 7.69 crore in Q1 June 2025. No sales were reported in the same quarter last year.

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