GOCL Corporation Ltd has sold 44.25 acres land Kukatpally, Hyderabad

GOCL Corporation Ltd had in the year 2012 entered into a Joint Development Agreement (JDA) in respect oi 76.34 acres land situated at Kukatpally, Hyderabad with Hinduja Estates Private Limited (HEPL).

Pursuant to the approval of the Board of Directors at its Meeting held today, the company has entered into an Agreement dated August 27,2021 with Squarespace Infra City Private Limited for sale of 44.25 acres land at Kukatpally, Hyderabad subject to requisite approvals, for a consideration of Rs.45l.79 crores. The Company has received a payment of 100% of the consideration on execution of an Agreement. The transaction is expected to be completed in 3 to 6 months time.

The remaining land of about 32.09 acres will continue under the JDA with HEPL for development based on approvals.

HEPL and Squarespace Infra City are not related parties of the Company and are not related to promoter / promoter group / group companies.

Shares of GOCL Corporation Limited was last trading in BSE at Rs. 250.1 as compared to the previous close of Rs. 249.75. The total number of shares traded during the day was 1229 in over 71 trades.

The stock hit an intraday high of Rs. 258.9 and intraday low of 250.1. The net turnover during the day was Rs. 312332.

Source : Equity Bulls

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