Satra Properties acquires property at Calicut
Source: IRIS (08 November 2006)
Satra Properties India has entered into an MOU for acquisition of property at Calicut, Kerala for the plot size of one acre.
This MoU will be for a consideration of Rs 180 million (approximately) and will involve land that offers potential to construct a shopping mall, thereby generating a saleable area of about of 1.5 lakh sq ft. Permission to provide a multiplex under the proposed project name of `Calicut Gallaria` is also to be available.
Recently the company declared an interim dividend of 10% (Re 1 per share) for the year 2006-07.
The board also reviewed the amalgamation of the company with Om Housing Company.
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BOOMING CALICUT
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