Yashita Buildcon Acquires Commercial Building At Gurugram
2018-01-11 Merger and Acquisitions Construction Northern India
Indiabulls Real Estate Limited ("the Company"), through its wholly-owned subsidiary Yashita Buildcon Limited, has entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having a leasable area of approx 2.5 lac sq. ft. in Gurugram. The deal is expected to get completed in 3 to 4 months when the Occupation Certificate of the building is expected to be received. The said building is situated at a developed prime commercial location, where many leading multi-nationals are operating in the nearby vicinity. With this additional leasable area, the Company expects to enhance its annuity revenue to Rs. 1,450 crores in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate Limited.