Hindustan Motors awaiting govt approval for developing land

Kolkata, Jul 28 (UNI) Auto manufature Hindustan Motors Ltd is awaiting government approval for developing 314 acres of land at its Uttarpara factory in West Bengal.

"The company would develop residential complexes, export oriented auto-component park and IT park in the Uttarpara complex once it gets government approval," company chairman C K Birla said at the sidelines of the company's annual general meeting today.

The company launched the luxurious sports utility vehicle Montero and the first consigment would commence from the second week of August, he said.

The company today reported first quarter net loss of Rs 20.5 crore compared to profit of Rs 102.55 crore in the corresponding period last year.

The company's net sales for the quarter was Rs 141.47 crore as against Rs 211.34 crore in the same period last year.

UNI TJP PC RN1815