06 Aug 07 Orbit Corp to sell Kalina land to Reliance Retail?
Orbit Corp Limited touched an all-time high today following reports that Reliance Retail and JSW Steel were interested in buying the Kalina land, which Orbit Corp bought for 300 crores just 5 months back, for over 800 crores. The land is strategically positioned in Kalina which is just a stone’s throw away from Bandra Kurla Complex (BKC). BKC is Mumbai’s second largest business center (next only to Nariman Point – Fort area). About 200% returns in less than 6 months - indicates how hot the Indian real estate sector is.
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