117.94 -1.38(-1.16%)
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Hemisphere Properties India Limited (HPIL), a Central Public Sector Enterprise (CPSE) was incorporated on 17 January, 2005 as Real Estate Company to transfer and hive off the land set aside as Surplus Land at the time of disinvestment of Videsh Sanchar Nigam Limited (VSNL) which is presently known as Tata Communications Limited. The President of India through Department of Telecommunication acquired majority shareholding in HPIL in year 2012 and it became a CPSE- Government Company from onwards March 18, 2014. The Company is engaged in construction and development of commercial building, industrial shed, offices, house buildings, apartment, structures, hotels or other allied works of every description on any land acquired howsoever by it whether on ownership basis or lease or licensee and to deal with such construction or developed or build premises by letting out, hiring or sale.Apart from this, HPIL owns approximately 739.69 acres of land across Delhi, Chennai, Pune, and Kolkata. These assets, transferred from Tata Communications Limited under the Scheme of Arrangement, are situated in locations with high urbanization potential and strong demand drivers.During FY 2012-13, Government of India acquired 51.12% equity stake in the Company after the decision of Cabinet. ...