Ansal Properties clarifies on news item regarding investment plan in Punjab

With reference to the news item appearing in a leading financial daily titled, "Ansal plans to invest Rs 11 K cr in Punjab in 4 yrs", Ansal Properties & Infrastructure Ltd has clarified that the company has vide its letter inter-alia stated, "At a press conference held on February 06, 2007, the Company has announced the agreement between Ansal Properties and Infrastructure and Ritesh Industries Ltd. for developing a real estate project in Ludhiana, Punjab. As stated in the press release the Company has stated the total projected revenue (turnover) of approximately Rs 800 crores for the said Ludhiana Project. During the press conference the Company has also mentioned about its other projects being executed by us in Mohali, Ludhiana, Jallandhar, Amritsar and Bhatinda in Punjab. However, the Company has not stated about the investment and revenue plans in respect of the Company's project in Punjab, except Ludhiana."

Source : Equity Bulls

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