Clarifies on News Item

| Updated on July 01, 2014 Published on July 01, 2014

With reference to the news item appearing in the newspaper titled "Anant Raj to exit hospitality business", Anant Raj Ltd has Clarified to BSE as under:

"The core strength of the Company has always been developing commercial and township projects. The Company had entered into hospitality space around 10 years back but keeping in view slump in the sector, the Company has not made further investment in any new hospitality projects for last 5 years. The Company has focus on its core area of realty sector i.e. development of IT, SEZ, Retail, Commercial & Township Projects and for last 2 years it is trying to exit from hospitality projects. Now, as there is a stable government in Centre, overall improvement in the investors sentiment and also considering that FDI is allowed upto 100% in hospitality sector, the Company believes that exit from hospitality projects may be feasible now. In this line of thought, the statement of our Director & CEO, Mr. Amit Sarin to the Newspaper is general in nature.

Please also note that there is no specific deal relating to any of the hospitality property is in hand with the Company and hence the matter is yet not considered in the board meetings of the Company. As soon as there will be any development towards any such deals, the matter would be discussed in the board and necessary disclosure/intimation shall be given to stock exchanges in compliance with applicable laws.

We are also not aware of any information relating to the Company which is not announced to the exchanges and which can have an impact on the price of its scrip.

Further the Company clarified that, the Group has a few properties in Lutiyen Delhi. However none of them is of the size of two acres as mentioned in the news item. Also Mr. Sarin has not given any such statement as published in the news paper as there is no concrete deal in hand which can be confirmed. This part of the newspaper item is speculative and without our confirmation."

Source : BSE - >www.bseindia.com

Published on July 01, 2014
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