Hindustan Construction Company Ltd, a leading infrastructure, construction and development Company, has notified that Bennett Coleman & Co. Ltd has invested Rs 81.25 crore in Lavasa Corporation Ltd (LAVASA), a subsidiary of the HCC (Hindustan Construction Company Ltd) in the form of convertible warrants.

Bennett Coleman is a publisher and owns English daily, Times of India. Based on the above investment, the equity valuation of LAVASA gets reconfirmed at Rs 100 billion.

It may be noted that Axis Bank Ltd, Bank of India and Allahabad Bank had also invested Rs 2.5 billion, Rs 1.5 billion and Rs 500 million respectively at the same valuation.

Pune-headquartered Lavasa Corporation, Ltd. develops townships. Its current mega-township project includes business parks made up of employers, such as commercial, institutional, and information technology (IT) firms, as well as nonpolluting processing firms.