Latest News | GOCL Corporation Concludes Sale of 32 Acre in Hyderabad for Rs 326.8cr

New Delhi, May 31 (PTI) Hinduja Group firm GOCL Corporation Ltd on Tuesday said it has concluded sale of 32 acres of land at Kukatpally, Hyderabad for Rs 326.80 crore.

In a regulatory filing, the company informed that "sale of 32 acres out of 44.25 acres of land has been concluded for a sale consideration of Rs 326.80 crores and the company has received consideration for the same. Sale of the balance 12.25 acres of land will be concluded in due course."

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On May 27, GOCL Corporation Ltd had informed that it sees a big opportunity in the growing and lucrative realty sector, and is planning to monetise its large land bank at Bangalore, Kukatpally and Bhiwandi.

"At Kukatpally, the company had entered into an agreement of sale of 44 acres of land for a consideration of Rs 451 crore. This sale is likely to be concluded with registration of the land soon, and the company will book profits accordingly in Q1," it had said in a statement.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)