Mumbai, July 3 :    Mumbai, July 3:  The board of Rallis India Ltd, an agro-chemicals major from the Tata group, today approved a proposal to dispose of its real estate in Andheri in the north-western part of the metropolis to Tata Sons and its associates, for a consideration of Rs 133 crore. The sale is part of the restructuring that saw the Tata company exit the pharma business last year. The company had sold its pharmaceutical business to Shreya Impex Pvt Ltd for a consideration of Rs 49 crore. The exit from the pharmaceutical business last year and now the disposal of real estate will strengthen its balance sheet and enable it to focus on its core strengths in the areas of agrochemicals, seeds and agri-business, analysts said. The Rallis board recently approved the merger of five wholly owned subsidiaries with it, subject to the necessary approvals. The subsidiaries which were merged effective from April 1, 2001, are Ralchem Ltd, Rallis Finance & Investments Company Ltd, Rallis Hybrid Seeds Ltd, Rallis Farm Management Services Ltd and Sankhya Garments Ltd. Analysts say the sale of Rallis' real estate to its holding company could mean that the company was unable to attract a good rate from external agencies. It also could mean that the group is keen to develop the property as it is close to the technology park set up by the Tatas.