Mumbai: The Indian Hume Pipe Co. Ltd. (IHP) has completed the sale of its Hyderabad land asset, measuring approximately 18,311.57 Sq. Yds. (approx. equivalent to 15,310.80 Sq. Mtrs.) to ASBL Private Limited (formerly known as Ashoka Builders India Private Limited) for a total consideration of INR 173.96 Crores.
Rajas Doshi, Chairman & Managing Director, IHP:
“Following 94 years of holding the Hyderabad property on leasehold, we obtained ownership recently this year and successfully concluded its sale within a short timeframe. The transaction, finalized through a competitive bidding process, was completed with ASBL Private Limited (formerly known as Ashoka Builders India Private Limited), a prominent and growing player in Hyderabad’s real estate market.”
Jones Lang Lasalle (JLL) acted as transaction advisors. Cyril Amarchand Mangaldas (CAM) acted as legal advisors.
