Introduction
Hinduja Group of Hyderabad: Hinduja group company Gulf Oil Corporation Limited (GOCL) has entered into a joint development MoU with Squarespace Builders Pvt Ltd for strategic monetization of 264.50 acres of prime land in Kukatpally for Rs 3,402 crores.
Table of Contents
- Company’s Financial Goals
- Large Real Estate Projects in Bengaluru and Hyderabad
- About the Gulf Oil Corporation Ltd
GOCL and Hinduja Healthcare Limited (HHL) have joined hands with Squarespace Builders to undertake a Joint Development Agreement (JDA) for 32 acres of land. This strategic collaboration will lead to the development of a world-class infrastructure that will transform the landscape and create immense growth opportunities for all stakeholders involved.
With the combined expertise of the three companies, this project is set to redefine the norms of urban development and pave the way for a better tomorrow.
The company has officially said that the process will be completed in 18 months in carefully planned tranches after finalizing the associated contracts. The company immediately started selling 12.50 acres of land out of the 32 acres mentioned earlier under JDA.
Company’s Financial Goals
According to a recent regulatory filing, the company will receive a payment of Rs 520 crore in the first tranche. Out of this amount, the sale of 12.50 acres is expected to fetch Rs. 160 crores, which is a great start towards the company’s financial goals.
According to the filing, the remaining funds will be disbursed to the company in phases, ensuring sustainable financial support through future transactions. This news is a positive step for the company’s growth and success.
Large Real Estate Projects in Bengaluru and Hyderabad
GOCL and its subsidiaries have an impressive range of innovative products in energetics and commercial explosives. They specialize in developing unique solutions for the defense and space sectors, such as their metal cladding solutions utilizing explosives.
But GOCL isn’t just limited to these industries, they’ve recently expanded into electronics and are even investing in large real estate projects in Bengaluru and Hyderabad. With such a diverse portfolio of cutting-edge products and ventures, it’s clear that GOCL is a company to watch.
About the Gulf Oil Corporation Ltd
Gulf Oil Corporation Ltd. ventures into three operating divisions: Energetics, Mining and Infrastructure Contracts, and Propepropertylopment. It manufactures various explosive products for defense and space applications.
The mining division provides large-scale mining in coal, iron, ore, limestone, and bauxite mines. The company also develops large properties into a commercial co-operative. GOCL was incorporated in 2002 and is based in Andhra Pradesh, India.
Conclusion
GOCL and Hinduja Healthcare Limited (HHL) have joined hands with Squarespace Builders and entered into a Joint Development Agreement (JDA) for 32 acres of land. GOCL has recently ventured into electronics and is also developing large real estate projects in Bangalore & Hyderabad. This strategic collaboration will lead to the development of world-class infrastructure, which will transform the landscape. For more information, visit openplot.
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