Hazoor Multi Projects has diluted its holding to 46%, in the capital of the subsidiary, Hazoor Township Developers pursuant to its divestment strategy. Consequently, the company ceases to be the holding company of the said subsidiary.
The aforesaid dilution of holding will have no bearing on the performance / operation of the company as it envisage to reinvest the divested surplus into the other revenue yielding activities.
Hazoor Multi Projects is a public limited company, listed on the prestigious Bombay Stock Exchange. The core competency of hazoor is in the field of realty and real estate development.