The Company is in the process of setting up a large IT facility at its property at Nanakramguda (which was registered in the Company's favour in May 2015 by TSIIC through a conditional sale deed) with a new partner and is settling old building contractors and vendors through proceeds of Madhapur property and other cash accruals.
The company sold the land at Vishakapatnam for a consideration of Rs.43.50 crore. The entire proceeds of this sale are being utilized for repayment of its loans and debts.
