Lancor Holdings buys L&T Commercial Projects

Nov 28 2012, 03:24 IST
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SummaryChennai-based realty firm Lancor Holdings today said it has bought L&T Commercial Projects Pvt Ltd but did not disclose the deal size.

Chennai-based realty firm Lancor Holdings today said it has bought L&T Commercial Projects Pvt Ltd but did not disclose the deal size.

"Lancor Holdings Ltd has informed BSE that the company has concluded the purchase of 100 per cent equity shares of L&T Commercial Projects Pvt Ltd," the realty firm said in a filing to the BSE.

The company, however, did not share details on financials involved in the deal.

"As a result of this acquisition, approximately 6.5 acres of prime land on GST Road has become available for development into residential and commercial projects with good potential to earn profits," Lancor said without sharing details.

Lancor scrip closed 4.79 per cent up at Rs 42.70 apiece on the BSE.

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