Real estate developer BPTP Ltd today said it has bagged 30 acres of land in the Knowledge City of Hyderabad worth Rs 666 crore.

"Andhra Pradesh Industrial Infrastructure Corporation (APIIC) put the land on auction and the highest bid offered by the BPTP was of Rs 22.20 crore per acre for the plot no. 16 in the inter-se bidding," BPTP said in a statement.

APIIC floated the tender for the project with a reserve price of Rs 20 crore per acre.

The deal by BPTP comes on the heels of Puravankara Projects Ltd winning a tender bid from APIIC for development of a project in the city. Puravankara's bid for the land deal was for Rs 630 crore.

NCR-based BPTP Ltd is also planning to raise Rs 1,500 crore through a public offer early next year for part-financing its projects.

ET, 22nd Nov, '07
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