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IVRCL is planning to sell as much as 1,600 acres out of its land bank that it had secured for its real estate development. The land spans across five cities: Bangalore, Pune, Chennai, Hyderabad and Visakhapatnam. The company has around 2,300 acres of land in total.

The company plans to use the cash from land sale as capital for future projects in its bid to reduce debt requirement.

Recently on December 13, 2011, Macquarie Bank acquired 1.5% stake in IVRCL. It bought 40 lakh shares of the company at Rs 33.5 a share amounting to Rs 13.40 crore.

IVRCL is engaged primarily in providing engineering, procurement, construction and commissioning services in major infrastructure segments including urban/rural water supply, irrigation and environment related projects, pipelines, power projects (substations and transmission and distribution lines), buildings and industrial structures, roads and bridges.

Peers
Company Name CMP
Larsen & Toubro 3921.40
Rail Vikas Nigam 301.55
NCC 167.25
KEC International 574.60
Kalpataru Projects 1247.70
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