Omaxe buys Rs 100 cr worth land from VUDA

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Posted online: Mumbai, November 2: IST

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Friday , November 02, 2007 at 1032 hrs Real estate firm Omaxe Ltd on Friday said it has acquired 19.53 acres of land worth Rs 100.57 crore from Visakhaptanam Urban Development Authority (VUDA).

Finishing Touch Properties and Developers Pvt Ltd, a subsidiary of the company, has been allotted the land at Visakhapatnam from VUDA on an open auction-cum-sealed tender basis, Omaxe said in a communique to the Bombay Stock Exchange (BSE).

The allotment is on a provisional basis subject to auction terms and conditions, it added.

The company's board at a meeting on October 31 also took a decision to invest Rs 1,00,000 to acquire 10,000 equity shares of Rs 10 each of Finishing Touch Properties and Developers Pvt Ltd, Omaxe said.

Shares of the company were last trading at Rs 303.55, up 1.61 per cent at on the BSE.

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Omaxe buys Rs 100 cr worth land from VUDA

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