HCC divests entire equity shareholding in HREL, Real Estate News, ET RealEstate
NEW DELHI: 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.
