India, Sept. 18 -- Cash-strapped IL&FS along with its two arms has decided to sell a total of 494 acre land parcels in three states in a bid to generate capital and pare debt.
IL&FS, IL&FS Township & Urban Assets and IL&FS Engineering and Construction Co currently hold 9 per cent, 40 per cent and 31 per cent stakes, respectively in Hill County Properties Ltd (HCPL), IL&FS group said in a notice inviting expression of interest.
HCPL houses various land parcels/development rights for properties aggregating to nearly 494 acres spread across six sites in Telangana, Andhra Pradesh and Uttar Pradesh.
Of these, three sites are in Hyderabad aggregating to 437 acre, one site each in Vijayawada and Visakhapatnam of about 44 acre and one site in Me...