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Vedanta Ltd on Wednesday said it has incorporated a wholly-owned company Vedanta Property Platforms Ltd (VPPL) to foray into real estate sector. VPPL will serve as a strategic vehicle for Vedanta's real estate business and related activities. The move is aimed at monetising surplus land and non-core property assets and creating a dedicated structure for potential joint ventures and asset-light initiatives to fund expansion in its core metals and energy businesses. In a filing to BSE, the company said VPPL was incorporated in Mumbai, Maharashtra, on June 22. The subsidiary will serve as a strategic platform for undertaking real estate business and ancillary activities. It has an authorised capital of Rs 1 lakh, comprising 1 lakh equity shares of Rs 1 each. Its subscribed capital also stands at Rs 1 lakh. Vedanta has subscribed to 100 per cent of the equity share capital of the company through a cash consideration of Rs 1 lakh, making VPPL a wholly-owned arm. As the company has bee