Hemisphere Properties India Ltd

About Hemisphere Properties

Hemisphere Properties India Limited, a Central Public Sector Enterprise (CPSE), was established as a real estate company on January 17, 2005, to transfer and split off the land designated as surplus land during Videsh Sanchar Nigam Limited's (VSNL) disinvestment. VSNL is now known as Tata Communications Limited. In 2012, the Department of Telecommunications bought the bulk of the Hemisphere Properties India Limited share. On March 18, 2014, HPIL became a CPSE—government company. This had a major impact on the Hemisphere properties India share price. 

The company's projects include developing and building commercial buildings, industrial sheds, offices, residential buildings, apartment complexes, hotels, and other related works of all kinds on any land it acquires, regardless of ownership, lease, or licensee. It also deals with developing or building premises by renting, selling, or leasing agreements. These business operations have helped the company Hemisphere Properties India Ltd share price.

History of Hemisphere Properties India Ltd

The Government of India founded the business as part of its disinvestment exercise regarding its ownership in the former VSNL, now known as Tata Communications Limited. After completing the stamp duty payment procedures on the allotment, the company applied for the listing of Hemisphere Properties share price NSE stock exchanges.  

Following a Cabinet decision, the Government of India purchased a 51.12% equity holding in HPIL during FY 2012–2013. The Cabinet decision dated April 6, 2018, moved the management of HPIL from the Department of Telecommunication to the Ministry of Housing & Urban Affairs. Before this, the company was under the charge of the Department of Telecommunications. The Scheme of Arrangement & Reconstruction between Tata Communications Limited and Hemisphere Properties India Limited was authorised on July 12, 2018, and August 5, 2018, respectively, by the Mumbai Bench of the National Company Law Tribunal and the Ministry of Corporate Affairs. 

Business Segment of Hemisphere Properties India Limited Share Price

Investors are interested in Hemisphere Properties share price due to its wide business range. Purchasing, selling, holding, managing, developing, preserving, and dealing with properties are the primary goals of Hemisphere Properties Limited India. 

Income and Expense Management

To collect and pay income, rent, lease payments, and any other costs that an organisation owes in exchange for using the property.

Real Estate Acquisition and Business Operations

To conduct business in the developing areas holding, owing, leading, or licensing real estate and other property, whether acquired through purchase, exchange hire, barter and exchange, lease licence, or another method.

Property Development and Construction Projects

To undertake the business of developing and building commercial buildings, industrial buildings, offices, residential buildings, apartment buildings, hotels, or other related works of any kind on any land that the company obtains, regardless of ownership, lease, or licensee, and to deal with such development or build premises by renting, selling, or leasing. 

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Key Personnel of Hemisphere Properties India Ltd

• Mr. D. Thara is the Chairman and Managing Director.
• Mr. Diwakar Kumar Barnwal is the Director.
• Mr. G. R. Kanakavidu is the Independent Director.
• Mr. Ravi Kumar Arora is the director.
• Ms. Sunita Chandra is the independent director.