Infrastructure Leasing & Financial Services (IL&FS) has put nearly 494 acre of land parcels on block across three states, including Telangana, Andhra Pradesh and Uttar Pradesh.
IL&FS, through its group firms IL&FS Township and Urban Assets and IL&FS Engineering and Construction Company, holds a total of 80 percent 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 Hill County Properties (HCPL).
The company has appointed Jones Lang LaSalle Property Consultants to assist the potential transaction. Hill County Properties houses various land parcels and development rights for properties aggregating to 494 acre spread across six sites including three in Hyderabad (437 acre) and one each in Vijayawada, Visakhapatnam and Meerut.
The company has invited expressions of interest (EoIs) from interested parties for a potential equity stake divestment. The Group has recently received 14 binding financial bids of around Rs 13,000 crore for 10 domestic road assets.