Hemisphere Properties Bopkhel Sale: ₹640.50 Crore Deal

E-auction outcome for Pune land

Hemisphere Properties India Limited has completed the e-auction process for its land parcel at Bopkhel, Pune, with HyperVault AI Data Center Limited emerging as the highest bidder. The bid value is ₹640.50 crore, excluding applicable taxes and success fee. The process concluded on May 12, 2026, following a Request for Proposal dated February 18, 2026. The proposed transaction remains subject to shareholder approval and other required regulatory approvals. The company has also stated that the sale deed will be executed after the transaction terms and conditions are fulfilled.

Parcel measures 3,54,600 square metres

The proposed sale covers approximately 3,54,600 square metres of land in Village Bopkhel, Pune. The parcel was offered through an e-auction process under the company’s land monetisation programme. The reported reserve price for the property was ₹600 crore. HyperVault AI Data Center Limited submitted the highest bid of ₹640.50 crore. This places the bid ₹40.50 crore above the stated reserve price.

Evaluation followed the auction process

In its initial disclosure after the May 12 auction, Hemisphere Properties said bids were under evaluation and scrutiny. This included verification of documents and eligibility criteria of participating bidders. The company had said the successful bidder and bid amount would be declared after the evaluation process and confirmation by the competent authority. It subsequently identified HyperVault AI Data Center Limited as the H1 bidder. The board approved the outcome of the RFP process, subject to shareholder and regulatory clearances.

Board flags related party transaction

The board noted that the proposed sale falls within the ambit of a related party transaction. It approved HyperVault AI Data Center Limited as the successful bidder, while making the transaction conditional on shareholder approval and other approvals. A postal ballot notice was approved for this purpose. The company has described the transaction as an arm’s length sale following the e-auction. The reported transaction value represents 99% of Hemisphere Properties’ annual consolidated turnover.

Payment is structured in two instalments

The transaction terms provide for payment in two stages from the date of the Letter of Acceptance. The buyer is required to pay 25% within T+120 days. The remaining 75% is payable within T+300 days. A delay in payment of the second instalment may attract simple interest at 12% per annum. The final sale deed is to be executed after fulfilment of the conditions set out in the RFP and transaction documents.

Key transaction details

Land monetisation remains central to strategy

Hemisphere Properties is responsible for liquidating assets associated with the former VSNL, now Tata Communications. Its annual report referred to the completion of mutation for land parcels in Kolkata, Pune and Chattarpur, along with the initiation of the Bopkhel e-auction. The company reported a land portfolio of 739.69 acres across five locations. It also reported rental income of ₹90.64 lakh from the Pune land parcel during the period cited in the annual report. The Bopkhel transaction is therefore a significant step in converting a large land asset into sale proceeds.

Financial context for Hemisphere Properties

The company reported a wider FY26 loss of ₹11.22 crore. Against this financial backdrop, the ₹640.50 crore proposed land sale is material for the company’s asset monetisation plans. However, the bid amount is not equivalent to immediate recognised income or cash receipt, because payments are structured in tranches and the deal remains subject to conditions. Applicable taxes and success fee are excluded from the reported ₹640.50 crore transaction value. Investors will need to track the approval process, payment milestones and execution of the sale deed.

Relevance for data centre development

The winning bidder is HyperVault AI Data Center Limited, placing the transaction in the context of data-centre-linked infrastructure demand. The disclosures do not specify the buyer’s intended development plan for the site. Still, the selection of an AI data centre company as the bidder is a relevant detail for the land’s future use, subject to completion of the transaction and applicable approvals. The company has not announced the sale deed execution date. The RFP conditions and regulatory process will determine the next formal milestones.

What investors should watch next

The immediate next step is the shareholder approval process through the postal ballot route. Regulatory approvals, if applicable, must also be obtained before the transaction can be completed. After the Letter of Acceptance, the buyer must meet the agreed payment schedule. Hemisphere Properties will then proceed with the sale deed once all stipulated conditions are satisfied. The outcome will be important for the company’s stated effort to monetise strategically located land assets.

Conclusion

Hemisphere Properties’ Bopkhel land auction produced a highest bid of ₹640.50 crore from HyperVault AI Data Center Limited, above the ₹600 crore reserve price. The proposed transaction is material to the company and is subject to shareholder, regulatory and contractual conditions. The next disclosures are expected to concern approval progress, issuance of the Letter of Acceptance, payment compliance and execution of the sale deed.