HCC sells Panvel land parcel for Rs 95 crore
Hindustan Construction Company (HCC) has said that it has sold a land parcel spread over 58 acres in Panvel near Mumbai to supply chain company StoreAce Logistics’ subsidiary, Oak & Stone Constructions.
The land is sold for an amount worth Rs 95 crore as Oak & Stone Constructions emerged as the highest bidder in an e-auction conducted by the listed company. The land parcel was mortgaged to a total of 21 lenders including Punjab National Bank, ICICI Bank, IDBI Bank, State Bank of India, Canara Bank, Exim Bank, Bank of Baroda, and Life Insurance Corporation of India.
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