One reason could be the promoters are taking some part in cash. The lane is in prime area and any developer would readily want to purchase it. I read on Income tax officials raid realty major Phoenix | Income tax officials raid realty major Phoenix that some minister has earlier forced them to sell the piece of land transacted earlier.
Still, even just considering the land parcel of 3402 crores, and that the money would be reflecting in company books in a few months, the company seems to valued low. What going be the cause? Any ideas.
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