Indian Hume Pipe Sells Hyderabad Land for INR 174 Crores
Filing Summary
The Indian Hume Pipe Company Ltd. has completed the sale of its Hyderabad land asset to ASBL Private Limited for a total consideration of INR 174 Crores. The land, measuring approximately 18,312 square yards, was sold following a competitive bidding process. The transaction was finalized after the company obtained ownership of the property earlier this year. Jones Lang Lasalle acted as transaction advisors, while Cyril Amarchand Mangaldas provided legal advice. The sale marks a significant development in Indian Hume Pipe’s asset management strategy.
The Indian Hume Pipe Company Ltd. has finalized the sale of its Hyderabad land asset to ASBL Private Limited for a total consideration of INR 174 Crores. The land measures approximately 18,311.57 square yards, equivalent to 15,310.80 square meters.
The transaction was completed following a competitive bidding process. Indian Hume Pipe recently obtained ownership of the property, which had been held on a leasehold basis for 94 years. The sale was concluded within a short timeframe after acquiring ownership.
Jones Lang Lasalle acted as the transaction advisors for this deal, while Cyril Amarchand Mangaldas served as the legal advisors.
ASBL Private Limited, formerly known as Ashoka Builders India Private Limited, is a notable entity in Hyderabad’s real estate market. The company is recognized for its involvement in various real estate projects and developments in the region.
The Indian Hume Pipe Company Ltd. focuses on manufacturing and supplying a wide range of products for water supply and irrigation projects. The company is engaged in strategic asset management to optimize its portfolio and enhance shareholder value.