Sale20 May 2025, 03:33 pm
GOCL Corporation Ltd Monetizes Additional 119.6 Acres of Land for Rs.1539.75 Crores
AI Summary
GOCL Corporation Ltd has monetized an additional 119.6 acres of land situated at Kukatpally, Hyderabad. This includes 115 acres of land for a proportionate consideration of Rs.1486.12 crores and 4.6 acres under a joint development agreement for Rs.53.63 crores. An amount of Rs.1112.68 crores has been kept as a cash margin under a fixed deposit towards an SBLC facility. The balance sale consideration has been deployed with Hinduja Group Limited at an interest rate of 8.40% p.a. The outstanding deposit amount with HGL is approximately Rs.708 crores.
Key Highlights
- GOCL Corporation Ltd has monetized an additional 119.6 acres of land for Rs.1539.75 crores.
- The land was monetized in two parts: 115 acres for Rs.1486.12 crores and 4.6 acres under a joint development agreement for Rs.53.63 crores.
- An amount of Rs.1112.68 crores has been kept as a cash margin under a fixed deposit towards an SBLC facility.
- The balance sale consideration has been deployed with Hinduja Group Limited at an interest rate of 8.40% p.a.
- The outstanding deposit amount with Hinduja Group Limited is approximately Rs.708 crores.