HB Estate Developers Share Price

HB Estate Developers Limited is an India-based company. The Company is engaged in the development of commercial and residential complexes. It is also focused on entering into the development of residential complexes. HB Estate Developers Limited was initially incorporated under the name of HB Housing & Development Corporation Limited on September 20, 1994 with the main object of development of commercial and residential complexes. The name of the company was subsequently changed on January 23, 1996 to HB Estate Developers Ltd. Pursuant to a Scheme of Arrangement sanctioned by the Delhi High Court the Real Estate Division of HB Stockholdings Limited (formerly HB Portfolio Leasing Limited) was transferred to and vested in the Company. As of March 31, 2010, the project for construction of shopping mall-cum-multiplex and hotel at Mohali, involving approximately 333,000 square feet of built up area, being implemented by a joint venture with Parsvnath Developers Ltd., was under progress. Under the project, a three-screen multiplex, a 120-rooms hotel having an area of 89,239 square feet, and 187 mall units having an approximate area of 148,000 square feet (including a food court having an approximate area of 12,000 square feet) will be built. The company has entered into a long-term management agreement with The Indian Hotels Company Ltd. (IHCL) for operating the Companys upcoming hotel located at Gurgaon. Under the agreement, the hotel would be operated in the Five Star category under the TAJ portfolio of hotels.