The company has received Rs 220 crore as part consideration for this transaction. In addition, it will receive built up flats aggregating to 5,00,000 sq.ft. in the said project. The company, if so decides, has the option to swap this area for a cash payout in 24 months. There is no additional financial outlay required to be made by the company in this project.

The company has utilized the above proceeds to pay certain State Government dues linked to the land and will utilize the balance to repay its corporate debt.