HEMISPHERE PROP IND LTD

Hemisphere Properties India Limited (HPIL), a Central Public Sector Enterprise (CPSE) was incorporated on 17 January, 2005 as Real Estate Company to transfer and hive off the land set aside as Surplus Land at the time of disinvestment of Videsh Sanchar Nigam Limited (VSNL) which is presently known as Tata Communications Limited. The President of India through Department of Telecommunication acquired majority shareholding in HPIL in year 2012 and it became a CPSE- Government Company from onwards March 18, 2014. The Company is engaged in construction and development of commercial building, industrial shed, offices, house buildings, apartment, structures, hotels or other allied works of every description on any land acquired howsoever by it whether on ownership basis or lease or licensee and to deal with such construction or developed or build premises by letting out, hiring or sale. Apart from this, HPIL owns approximately 739.69 acres of land across Delhi, Chennai, Pune, and Kolkata. These assets, transferred from Tata Communications Limited under the Scheme of Arrangement, are situated in locations with high urbanization potential and strong demand drivers. During FY 2012-13, Government of India acquired 51.12% equity stake in the Company after the decision of Cabinet. Earlier, the Company was in administration of Department of Telecommunications and further after Cabinet's decision dated April 6, 2018, the administration of the Company was transferred from Department of Telecommunication to Ministry of Housing & Urban Affairs. The Mumbai Bench of National Company Law Tribunal and Ministry of Corporate Affairs approved Scheme of Arrangement & Reconstruction between Tata Communications Limited & Hemisphere Properties India Limited on 12.07.2018 and 05.08.2018 respectively. The Company has land of approx. 2.99 million square mtr (739.69 in acre) across 4 states located in 5 locations in India. Under the said Scheme, the surplus Land was transferred into the Company located in 4 major cities ie. Delhi, Pune, Chennai and Kolkatta. The Company objective is to construct, acquire, hold, manage, develop, administer, protect, reserve and to deal in any other manner with properties, including sale and purchase thereof, whether such properties are in the nature of land or building (semi constructed or fully constructed) or partially land and partially buildings, anywhere in India. As per Scheme of Arrangement & Reconstruction, the Company transferred with Fixed Deposit amount of approx. 2.74 crores by Tata Communications Limited. The Company issued shares to the shareholders of Tata Communications Limited as on Record date in 1:1 share exchange ratio and after completing formalities of payment of stamp duty on allotment, the company filed application for listing of shares on both the stock exchanges and listed on BSE and NSE. The Company had issued 28,50,00,000 (Twenty Eight Crore Fifty Lacs) Equity shares of Rs. 10 each on 18 February 2020 to the shareholders of Tata Communications Limited in the ratio of 1:1 and existing paid up share capital of the Company i.e Rs. 5,00,000 (Rupees Five Lakhs only) stood cancelled as per the terms of Scheme of Arrangement & Reconstruction entered into between Tata Communications Limited and the Company as approved by Hon'ble NCLT, Mumbai and Ministry Of Corporate Affairs, New Delhi. The President of India through Ministry of Housing & Urban Affairs is holding as on March 31, 2025 was 14,56,96,885 equity shares i.e. 51.12% of total paid up equity share capital of the Company. During FY 2024-25, HPIL completed the mutation of the land in Revenue and Municipal records. JLL was appointed as Transaction Advisor in February 2024 following a competitive RFP process. A detailed feasibility study was conducted, which recommended the development of gated residential plots, targeting residents of Halisahar and Kalyani as well as mid-segment buyers from Kolkata. The Central Public Works Department (CPWD) carried out preparatory works, including vegetation clearing, construction of a security guard room, and building of a peripheral road to facilitate inspections. These steps have improved the accessibility and readiness of the parcel for further planning and eventual monetization. The Company achieved the change of land use of land parcel falling under Bopkhel village from PSP to Residential.