NLL, on the basis of an approval received from Telangana State Industrial Infrastructure Corporation Limited, has entered into a joint agreement with a developer for the construction of an information technology park at the company’s land in Nanakramguda, Hyderabad in FY21. This investment property carries a book value of INR189.1 million; the management reiterated that it expects a much higher fair value (i.e. 4x-6x of the current book value) to accrue to NLL once the construction is completed. This asset sale amount can be then used for the guided capital expenditure
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