HB Estate Developers Ltd

HB Estate Developers Limited was initially incorporated as 'HB Housing & Development Corporation Limited' on September 20, 1994 with the main object of development of commercial and residential complexes. The name of the Company was then changed on January 23, 1996 to HB Estate Developers Limited. In 2012-13, the Company's hotel project Vivanta By Taj at Gurgaon, in Haryana commenced its commercial operations w.e.f. 8th March 2013. Similarly, the entire business of real estate development of 'Parsvnath Developers (AOP)', an Association of Persons was transferred as a going concern to M/s Gazala Promoters and Developers Private Limited. The Company and its nominees acquired 49% Equity Shares in M/s Gazala Promoters and Developers Private Limited and the remaining 51% was acquired by M/s Parsvnath Developers Limited and its nominees. Further, name of Gazala Promoters & Developers Private Limited got changed to 'Parsvnath HB Projects Private Limited' with effect from 9th May 2013. In 2014-15, Pisces Portfolios Pvt. Ltd. got merged with the Company through Scheme of Amalgamation and the merger became effective from April 1, 2012. The Board of Directors of the Company on December 12,2014 allotted 40,95,995/- equity shares of the Company of the face value of Rs 10/- each fully paid up to the shareholders of erstwhile Pisces' with the existing equity shares of the Company.The shares were allotted in the ratio of 64 equity shares of the Company of Rs 10/- each fully paid up in lieu of 100 equity shares of Rs. 10/ - each fully paid up of erstwhile Pisces'. Pursuant to a Scheme of Arrangement sanctioned by the Delhi High Court, the Real Estate Division of HB Stockholdings Limited (formerly HB Portfolio Leasing Limited) was transferred to the Company in 2017-18. Presently, Company engaged in the business of owning and managing hotels and real estate properties.