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Indiabulls acquires DLF stake in Tehkhand residential project at South Delhi | INRnews

New Delhi, India, February 07, 2008 - Indiabulls Real Estate Ltd has announced that Indiabulls Infrastructure Ltd ("IIL"), a subsidiary of the Company, has acquired 100% shareholding of Catherine Builders and Developers Pvt Ltd ("Catherine") from DLF Home Developers Ltd.

Catherine owns 50% shareholding of Kenneth Builders & Developers Pvt Ltd ("Kenneth") which had earlier won the auction by DDA to develop a residential project on 35.8 acres of land located at Tehkhand in South Delhi.

The remaining 50% shareholding of Kenneth is owned by Bridget Builders & Developers Pvt Ltd, a wholly owned subsidiary of IIL. With this acquisition, IIL now owns 100% stake in Kenneth through wholly owned subsidiaries.


By INRnews Correspondent


« Parsvnath & ITC join hands to manage hotels | INRnews | Main | MARG unveils plans for new city - “MARG Swarnabhoomi” in Tamil Nadu | INRnews »

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