GOCL Corporation share price jumps 20% on MoU with Squarespace Builders for ₹3,402 crore land monetisation
₹3,402 crores. GOCL Corp share price opened at an intraday high of ₹453.35 apiece on BSE.
In addition, 32 acres of property will be developed under a Joint Development Agreement (JDA) in cooperation with Hinduja Estates Private Limited, which is currently renamed as Hinduja Healthcare Limited (HHL), according to company's exchange filing. “The board its meeting approved entering into of a Memorandum of Understanding (MoU) with Squarespace lnfra City Private Limited, Hyderabad (Squarespace) for monetisation of approx.
264.50 acres of land situated at Kukatpally, Hyderabad, of which 32 acres land is under JDA," said the company in an exchange filing. It further stated that R 520 crore will be paid as the first installment under the agreement, and that the process will be finished over the course of 18 months in carefully scheduled tranches, subject to the compliance of any related conditions.
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