HDIL buys 15-acre land near Mumbai for Rs 115 cr
Real estate major HDIL has signed a memorandum of understanding with Eveready Industries for purchasing a 15-acre property in neighbouring Navi Mumbai for Rs 115 crore.
By PTI |
MUMBAI: Real estate major HDIL has signed a memorandum of understanding with Eveready Industries for purchasing a 15-acre property in neighbouring Navi Mumbai for Rs 115 crore.
The expected revenues from this purchase for HDIL are to the tune of Rs 800 crore and profits at about Rs 350 crore.
Sarang Wadhawan, Managing Director of HDIL (Housing Development and Infrastructure Ltd), said the deal falls in line with the company's growth plans in Mumbai Metropolitan Region.
Wadhwan Group has developed about 73 million square ft of area and has constructed 5.5 million sq ft of rehabilitation housing under the slum rehabilitation schemes, according to a statement released by the company.
The expected revenues from this purchase for HDIL are to the tune of Rs 800 crore and profits at about Rs 350 crore.
Sarang Wadhawan, Managing Director of HDIL (Housing Development and Infrastructure Ltd), said the deal falls in line with the company's growth plans in Mumbai Metropolitan Region.
Wadhwan Group has developed about 73 million square ft of area and has constructed 5.5 million sq ft of rehabilitation housing under the slum rehabilitation schemes, according to a statement released by the company.
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