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HCC divests entire equity shareholding in HREL

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NewsDrum Desk
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New Delhi, Mar 31 (PTI) 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.

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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. PTI BKS TRB

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