Himachal Futuristic clarifies on news item regarding Chennai land sale

With reference to the news item appearing in a leading financial daily titled "HFCL may sell 11 acres in Chennai", Himachal Futuristic Communications Ltd has clarified that M/s. HTL Ltd a subsidiary of the Company in which Company is holding 74% Equity Capital, has appointed M/s. Jones Lang La Salle (JLL) as Marketing Agent to sell the 11 acres land owned by M/s. HTL Ltd. Further the Company has informed that, sale of above land will be made through auction for which HTL Ltd has invited on line bidding. Final Results of the bids is expected to be made in the last week of February, 2007. The Company also clarify that the reserve price of the land is Rs 20 Crore per acre, not Rs 15 Crore per acre as reported.

Source : Equity Bulls

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