Our Company was formed as part of the disinvestment exercise carried out by the Government of India in respect of its holdings in the erstwhile VSNL (currently known as Tata Communications Limited). In 2002, the Government of India conducted a disinvestment exercise in respect of 25% of its shareholding in the equity share capital of VSNL, wherein in terms of the bid for the disinvestment required a separate value to be ascribed to lands.

Smt. D. Thara is serving as the Secretary, Ministry of Housing & Urban Affairs (MoHUA), Government of India, and has been the Chairperson & Managing Director (CMD) of Hemisphere Properties India Limited since November 2019. An accomplished Indian Administrative Service (IAS) officer of the 1995 Gujarat cadre, she has held several key leadership positions during her distinguished career, making significant contributions to urban development, public administration, and industrial growth.

Smt. Thara’s extensive experience showcases her strong leadership capabilities across various administrative echelons. Notably, she previously held the critical position of Managing Director of the Gujarat Industrial Development Corporation (GIDC), a pivotal organization for industrial advancement within the state. Her deep understanding of regional dynamics is further evidenced by her diverse administrative roles across several significant cities in Gujarat, including her tenures as Collector and Development Officer. The career path exemplifies trailblazing leadership and an enduring legacy in public service, making her an invaluable asset to our Board.