Hindustan Construction Company divests entire equity shareholding in HREL
Hindustan Construction Company (HCC) on Sunday said it has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company.
Accordingly, HREL and its following subsidiaries — Nashik Township Developers Ltd, Powai Real Estate Developers Ltd, HCC Aviation Ltd, HCC Realty Ltd have ceased to be subsidiaries of the company, HCC said in a regulatory filing.
“Hindustan Construction Company Ltd has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company vide share purchase agreement executed on March 31, 2024,” it said.
The consideration received from sale stood at Rs 10 lakh. HCC had reported a consolidated profit of Rs 233.22 crore in the December quarter.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Mar 31 2024 | 6:22 PM IST