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News about Pricol Limited

September 5th, 2007

The media had reports that Pricol Limited has entered into a joint venture with Pune construction company Vascon Engineers Ltd to develop real estate projects.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Pricol Limited has vide its letter inter-alia stated, “We would like to inform that the Company has not entered into any Joint Venture with Pune construction Company, Vascon Engineers Limited to develop real estate project. Further, the news item in the media has wrongly mentioned a Joint Venture between Pricol Limited and Vascon Engineers Limited, instead of a Joint Venture between Pricol Property Development Limited and Vascon Engineers Limited.”

Entry Filed under: Equity Markets