IL&FS to sell over 450 acres situated in Telangana, Andhra & Uttar Pradesh
Debt-ridden IL&FS Group has put on block nearly 494 acres of land parcels across three states including Telangana, Andhra Pradesh and Uttar Pradesh, held by its subsidiary Hill County Properties (HCPL).
IL&FS, through its group firms IL&FS Township and Urban Assets and IL&FS Engineering and Construction Company holds a total of 80 per cent equity stake in HCPL.
While IL&FS holds nine per cent, the other two firms hold 40 per cent and 31 per cent stake, respectively in HCPL.
The company has appointed Jones Lang LaSalle Property Consultants to assist the potential transaction.