Reliance Industries Ltd.

Mukesh Ambani owned Reliance Industries has entered into agreement with Hotel Leelaventure on February 18, 2013 to buy its IT park building in Chennai for Rs 170.17 crore. The property is situated at prime location of city at MRC Nagar and right next to its hotel which it recently opened. Hotel Leelaventure is planning to use these funds to reduce the debt, which stands at Rs 4,300 crore.

The company has reported 23.92% rise in its net profit at Rs 5502.00 crore for the quarter ended December 31, 2012 as compared to Rs 4440.00 crore for the same quarter in the previous year. Total income of the company has increased by 10.10% at Rs 95626.00 crore for quarter under review as compared to Rs 86852.00 crore for the quarter ended December 31, 2011.