Twilight Litaka Pharma real estate intentions

Twilight Litaka Pharma Ltd has informed that the Company is frequently receiving questions regarding sale of its land at Vadgaon Maval. The Company therefore feel the necessity to clarify this issue to its Shareholders and prospective investors. The Company is giving clarification which is as under :

"The Company is having around 11 acres of land at Vadgaon Maval, Dist. Pune, Maharashtra. On a portion of the said land Company’s one out of three manufacturing units is set up while rest of the land is vacant. Recently Company has received attractive enquiries from domestic as well as foreign firms for the purchase / acquisition of developmental rights of the said land for the value of around Rs 50 crores. The Company has turned down these offers since the value of the land in this location is likely to double in the near future considering the fact that an I.T. Park is being set up within 5 kms from the location and also an international Airport is being set up in the said area. Many giant companies such as General Motors, Larsen & Tubro, JCB, etc. are setting up their manufacturing units here. Considering all these factors, the Company has yet to take a final decision about the utilization / disposal of this land."