Ashok Leyland’s multi-billion dollar Hinduja Group has announced its major foray into the real estate sector in India, involving an investment of up to $15 billion over the next five years, as mentioned in some media report. Further, moving a step forward to this development, the group has already purchased land stock of over 3,500 acres in metros such as Mumbai, Chennai, Hyderabad and Bangalore for development of integrated residential and commercial townships, SEZs, with hospitality, healthcare and related facilities.
Ashok Leyland is a leading manufacturer of commercial vehicles in India. The company reported 13.24% decline in its net profit for the quarter March 31 at Rs 258.74 crore. The company had posted a net profit of Rs 298.23 crore in the same period last year. The company’s total income from operations increased 12.02% to Rs 4,311.02 crore from Rs 3,848.45 crore in the year-ago period.
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