Mumbai, Feb. 5 -- In a regulatory filing post market hours yesterday, the company stated that it had participated in the bids invited by Railway Land Development Authority (RLDA), a statutory authority under the Ministry of Railways, Government of India.

The actuion was for grant of lease for the development of approx. 45,371 square meters (approximately 11 acres) of railway land in Bandra East, adjoining Western Express Highway, Mumbai, for 99 years, with FSI potential of approximately 19.50 lakh square feet.

The financial bids were opened by RLDA on Wednesday. The company's bid, at Rs 5,400 crore, has emerged as the highest.

"Communication from RLDA w.r.t. the next steps in the process is awaited," the company said in a statement.

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