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New Delhi, Oct. 3

HDFC India Real Estate Fund (HI-REF), the first scheme of HDFC Property Fund, has decided to invest in the capital of Ansal IT City and Parks, which is a wholly owned subsidiary of Ansal Properties and Infrastructure Ltd.

"Ansal IT City & Parks is developing an IT campus on 75 acres at Greater Noida (UP) having expected turnover of about Rs 1,500 crore over the project period. HI-REF will hold not less than 26 per cent of the share capital of Ansal IT City & Parks. The said investment is subject to terms as mutually negotiated between the parties," the company informed the BSE.

(This article was published in the Business Line print edition dated October 4, 2005)
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