Drugmaker Sun Pharma is in a “preliminary understanding” with Standard Chartered Bank to purchase its Goregaon property on the suburban fringes of the city, subject to a successful due diligence, among other things.

Recent media reports had pegged the cost of purchase of the property at Rs 280 crore.

Sun Pharma further clarified that the purchase of any property for official purposes would not affect the company’s earnings. Besides, the amount forked out for the property would be a “minor percentage” of its net worth/asset base.

Sun Pharma shares were up close to 2 percent on the BSE, at about 3.30 p.m. on Monday.