Shares of Hemisphere Properties India Ltd (HPIL) fell sharply by over 17% to Rs 152.69 in early trade on Monday, extending their losses after the company announced details regarding the e-auction of its land parcel in Pune, Maharashtra.
The government-owned enterprise confirmed that the auction would take place between October 1 and October 3, 2025, following approval from the Pune Collector. The sale is being conducted as part of a Request for Proposal (RFP) issued in December 2024 and marks a significant move for HPIL in monetizing its land assets.
To secure approval from authorities, HPIL made a payment of Rs 130.56 crore to the Pune Collector — a substantial sum that weighed on investor sentiment. The company said this was a prerequisite for proceeding with the auction process.
While HPIL highlighted that the move aligns with its broader asset monetization strategy and has informed stock exchanges as per regulatory norms, investors appear concerned about cash outflow pressure and valuation uncertainties surrounding the land deal.
The company, headquartered in New Delhi, stated that this auction could potentially provide long-term financial benefits and strengthen its balance sheet, but the near-term market reaction has been negative, leading to a steep selloff.
At the time of writing, Hemisphere Properties’ market capitalization stood at Rs 43,650 crore, with the stock trading between Rs 150.30 and Rs 165.00 during the session.
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