Company Disclosures: Land Monetization Update
Key Quantitative Figures
- Total land area: 264.50 acres at Kukatpally, Hyderabad
- Monetization completed: 157 acres
- Balance land remaining: 107.50 acres (calculated)
Current Status and Constraints
Part of the balance land (107.50 acres) is under mortgage obligation by GOCL Corporation Limited. This mortgage serves as security for the loan availed by Hinduja National Power Corporation Limited (HNPCL).
Recent Developments
HNPCL has repaid most of its loan to the lender. The company is currently in discussion with its lender to release the land from the mortgage obligation.
Forward Plan
Upon release of the land from the mortgage obligation, monetization of the remaining land will be expedited by the company.