IVRCL Infrastructures secures 43 acres of land in Noida for Group Housing

IVRCL Infrastructures & Projects Ltd has announced that the Company got allotment of about 43.00 acres of land in Sector 119 and 121 for Group Housing by Now Okhia Industrial Development Authority (NOIDA). The Company is planning construction of around 2.8 million square feet of housing scheduled to commence in December 2006. The revenues are expected to flow in by way of booking advances etc., from the last quarter of the current financial year.

This project would be developed through the Company´s subsidiary IVR Prime Urban Developers Ltd (IVR PUDL), a Company engaged in real estate business. IVR PUDL has recently commenced construction of a mall and I.T Park of 2.2 million square feet at Gachibowli, Hyderabad.

Source : Equity Bulls

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