Bhagyanagar India to sell Part of Land of the Company at Uppal, Hyderabad

Bhagyanagar India Ltd has announced that the Company has agreed to sell part of its land admeasuring 5.76 Acres situated at Uppal, Hyderabad to M/s. Himadri Enterprises Pvt Ltd, Mumbai, for a consideration of Rs 53.52 Crores. The cost of acquisition of the said property is less than 10% of the sale price.

A Memorandum of Understanding (MOU) has been entered with M/s. Himadri Enterprises Pvt Ltd and the Company has received an advance of Rs 3.00 Crores towards the intended sale of the above property.

Source : Equity Bulls

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