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Source Name: HDIL

HDIL Announces 2nd Quarter Results

Nov 14, 2014   17:42 IST 
New Delhi, Delhi, India

For the quarter ended September 30th’2014

  • Quarterly Consolidated Turnover is at Rs. 304.83 crores as against Rs. 443.90 crores.
  • Quarterly Consolidated Profit before Tax is Rs. 84.33 crores as against Rs.73.88 crores
  • Quarterly Consolidated Profit after Tax is at Rs. 57.86 crores as against Rs.42.70 crores
  • Half yearly Consolidated Turnover is at Rs. 560.96 crores as against Rs. 604.74 crores
  • Half yearly Consolidated Profit before Tax is Rs. 160.24 crores as against Rs.104.14 crores
  • Half yearly Consolidated Profit after Tax is at Rs.114.56 crores as against Rs.58.94 crores
  • Consolidated Debt as on 30th Sept’2014 stands at Rs.3475.53 crores as compared to Rs.4004.38 crores







Housing Development and Infrastructure Limited (HDIL), one of the largest real estate companies in the country has announced its results for Q2 and half year ended 30th September 2014.


Commenting on the results Mr. Sarang Wadhawan, Vice Chairman & Managing Director, HDIL said ” We are pleased with the company’s performance in this quarter; it stands testimony to our twin-pronged strategy of ramping up our execution rate and reducing the debt burden. We have also started handing over possessions for some of our projects.  There is an improvement in the market sentiment post the formation of the new government."


The government has announced a slew of measures for the real estate sector that will result in stimulus to the real estate industry in the medium term. Relaxation in the FDI norms, categorization of affordable housing as an infrastructure status, and tax benefits to the REITs will go a long way in the revival of the industry.


We are positive that our strategy and Government’s policy initiatives augur well for HDIL and we will continue to chart a growth trajectory in the coming quarters.”


Key Business Highlights:

  • Possession of Galaxy Apartments at Kurla East and Industrial Park at Virar East
  • Sale volumes for the quarter increased by 10% approximately Rs. 330crores overall



About Housing Development and Infrastructure Ltd. (HDIL)

Housing Development and Infrastructure Limited (HDIL) has established itself as one of India’s premier real estate development companies, with significant operations in the Mumbai Metropolitan Region. With a land reserve ofRs.244.59 million square feet as on 30th September 2014, HDIL has about three decades of experience in the real estate & infrastructure domain having developed over 100 million sq. ft. area of commercial, residential and retail space. The Company has been a major player in Mumbai Realty with 90% land Reserves in the Mumbai Metropolitan Region (MMR) and a market leader in Residential and SRA projects.


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