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Housing Development Finance to absorb 5 subsidiaries

HousingDevelopment Finance Corp. Ltd. plans to merge several of itssubsidiaries to streamline the group and reduce operational costs.

The company said July 27 that it will absorb Grandeur PropertiesPvt. Ltd., Haddock Properties Pvt. Ltd., Winchester Properties Pvt. Ltd.,Pentagram Properties Pvt. Ltd. and Windermere Properties Pvt. Ltd.

The merger is subject to regulatory approvals.