Ansal Properties & Infrastructure Invests In Punjab

The media had reports that Ansal Properties & Infrastructure Limited plans to invest Rs.11,000 crores in Punjab in the next 4 years.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Ansal Properties & Infrastructure Limited has vide its letter inter-alia stated, "At a press conference held on February 06, 2007, we have announced the agreement between Ansal Properties and Infrastructure and Ritesh Industries Ltd. for developing a real estate project in Ludhiana, Punjab. The total projected revenue is approximately Rs. 800 crores for the said Ludhiana Project. During the press conference we have also mentioned about our other projects being executed by us in Mohali, Ludhiana, Jallandhar, Amritsar and Bhatinda in Punjab. However, we have not stated about our investment and revenue plans in respect of our projects in Punjab." -- www.nseindia.com