Friday , September 24 2021

GOCL Corporation sells 44.25 acres land Kukatpally, Hyderabad

GOCL Corporation has entered into an agreement dated August 27,2021 with Squarespace Infra City Private for sale of 44.25 acres land at Kukatpally, Hyderabad subject to requisite approvals, for a consideration of Rs.451.79 crore. The Company has received a payment of 100% of the consideration on execution of an Agreement. The transaction is expected to be completed in 3 to 6 months time.

The company had in the year 2012 entered into a Joint Development Agreement (JDA) in respect of 76.34 acres land situated at Kukatpally, Hyderabad with Hinduja Estates (HEPL). The remaining land of about 32.09 acres will continue under the JDA with HEPL for development based on approvals.

GOCL Corporation is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations.

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