By Somasroy Chakraborty MUMBAI, SEP 3 : Shoe-maker Bata India Ltd expects to receive Rs 200 million in next few weeks from selling stake in a township project in Batanagar, West Bengal. The company had formed a joint venture with Calcutta Metropolitan Group to create an integrated township but later sold its stake to Riverbank Holdings Pvt Ltd to concentrate on its core business. "We expect to get Rs 200 million in next few weeks. We have already received Rs 800 million by selling our stake in the project. The revenue will be reflected in our accounts as soon as we get the entire money," Chairman P.M. Sinha told TickerNews Service on Friday. The company will also get 340,000 square feet of residential space in the township project as part of the deal. "We will get this space free of cost. It's very difficult to predict now how much we will be able to earn from this," Sinha said. The Bata India stock gained 6% in August and added another 10% in first three days of September. It touched a 52-week high of Rs 345.90 on Bombay Stock Exchange today. Sinha ruled out any near-term plans for the company to foray into real estate business. "At this moment we are not considering it," he said. Separately, Sinha said the company was witnessing "good demand" in its footwear business. At 3:14PM, Bata India share was trading at Rs 341.40 on National Stock Exchange, up 1.54% from previous close. Filed by Harold Rasquinha