Hemisphere Properties land parcels valued at Rs 19k cr

01 Jan 2021 CW Staff

Hemisphere Properties will possibly partner with Tata Construction and Tata Housing to develop these lands for mixed-use real estate, including shops, malls, and residential development. The Centre owns 26.12% shareholding, and the Tatas own an equivalent amount through Pantone Investments.

The company’s prime lands lie in Halisahar, Kolkata (35.19 acre), Chennai (53.04 acre), Chhatarpur, New Delhi (58 acre), Greater Kailash, New Delhi (69.46 acre) and largest land parcel in Dighi, Pune (524 acre).

The operations of the surplus land located in Pune will be dependent on the conditions and the performance of real estate markets in the Pune Metropolitan Region (PMR).

Additionally, in past years the company’s net worth was negative due to no business operations. The goal now is to monetise these lands, mentioned in the annual report.

The stock price of the company closed at Rs 73.60, up by 3.85%. It has a market cap of Rs 2,097 crore.

Hemisphere marks 2020 as a landmark year as it successfully demerged the additional land of VSNL into the company. In the past, it was unable to generate revenue due to the absence of assets but will do in future as it owns large parcels in major cities in India. The company is identifying possibilities to use the land-based on demographics while working closely with the Ministry of Housing and Urban Affairs.

Image Source

Hemisphere Properties has announced that land parcels valued at Rs 19,000 crore can be monetised on current circle rate prices. An order of demerger issued by the Ministry of Corporate Affairs between Hemisphere Properties and Tata Communication Ltd mentioned that 739.69 acres of land were transferred into the company. The company has demerged with the additional land of VSNL (now Tata Communications Ltd). Hemisphere Properties will possibly partner with Tata Construction and Tata Housing to develop these lands for mixed-use real estate, including shops, malls, and residential development. The Centre owns 26.12% shareholding, and the Tatas own an equivalent amount through Pantone Investments. The company’s prime lands lie in Halisahar, Kolkata (35.19 acre), Chennai (53.04 acre), Chhatarpur, New Delhi (58 acre), Greater Kailash, New Delhi (69.46 acre) and largest land parcel in Dighi, Pune (524 acre). The operations of the surplus land located in Pune will be dependent on the conditions and the performance of real estate markets in the Pune Metropolitan Region (PMR). Additionally, in past years the company’s net worth was negative due to no business operations. The goal now is to monetise these lands, mentioned in the annual report. The stock price of the company closed at Rs 73.60, up by 3.85%. It has a market cap of Rs 2,097 crore. Hemisphere marks 2020 as a landmark year as it successfully demerged the additional land of VSNL into the company. In the past, it was unable to generate revenue due to the absence of assets but will do in future as it owns large parcels in major cities in India. The company is identifying possibilities to use the land-based on demographics while working closely with the Ministry of Housing and Urban Affairs. Image Source

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Resources

16 Sep 2025

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Real Estate

16 Sep 2025

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..