Kansai Nerolac Paints has said that its board has approved a proposal for "entering into an Agreement for Sale with Aethon Developers Pvt Ltd, subsidiary of Runwal Developers Pvt Ltd, for the sale of the company's land parcel at Lower Parel together with building thereon, for a consideration of Rs 726 crore." Accordingly, the company has entered into an Agreement for Sale with the buyer.