Texmaco Infrastructure & Holdings Ltd. (TI&HL), an 80-year-old company, has acquired Valley View Landholdings Pvt Ltd., a real estate company.
In a regulatory filing, TI&HL said that the acquired company is engaged in the real estate business and is planning to develop a large retail project in Goa. It has now become a wholly owned subsidiary of TI&HL.
TI&HL, founded in 1939 as Texmaco Limited, continued as a part of the K.K. Birla Group.
Demerging business
In 2010, it demerged its heavy engineering and steel foundry businesses, constituting a major part of its operations, into a separate company called Texmaco Rail & Engineering Limited.
TI&HL was consolidated under the Adventz Group banner (under Saroj Poddar), post-demerger of heavy engineering and steel foundry businesses. It is presently concentrating on the businesses of real estate, mini hydel power and manpower services.
The demerger of the company was with the prime objective of each constituent company being able to focus on the core areas of the respective business segments, according to the company’s website.
Currently, TI&HL is operating a mini hydel plant at Neora, Kalimpong district in West Bengal. Very soon, it is set to make its real estate foray in Delhi and Kolkata, the company said.
