I S T Ltd updates on Software / IT Park at Dundahera, Tehsil & District Gurgaon, Haryana

I S T Ltd has announced about the following updates regarding software / IT park on 28.419 Acres at Dundahera, Tehsil & District Gurgaon (Haryana):

In the first phase, 13.35 acres will be developed for establishing Software / IT Park out of the 28.419 acres. The saleable area is being developed in four phases, each phase consisting of one tower. Work on the first tower, around 4,02,000 sq. ft. of saleable area is fast progressing and would be ready for occupation by March 31, 2007.

Work on second tower (5,10,000 sq. ft.) and third tower (27,000 sq. ft.) is in progress and would be ready in all respects by September 30, 2007, work on the fourth tower (4,61,000 sq. ft.) is also planned to be completed by September, 2008.

Further, the charge of the State Bank of India has been extinguished on company’s piece of land measuring 15 acres 2 kanals 2.5 marlas. Now, the entire land of the company admeasuring 28 acres 4 Kanals 19 Marlas is free from charge. In respect of availment of credit facilities (both Fund Based and Non Fund Based) amounting to Rs 845 Lacs by the company from State Bank of India, GPC Technology Ltd (an associate company of the Company) has provided corporate guarantee as well as also created equitable charge / mortgage on its property situated at Village Malpura, Tehsil Rewari measuring 45,594 sq. m (11.26696 acres) in favour of State Bank of India.

Source : Equity Bulls

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