Housing Development & Infrastructure Ltd, a Mumbai-based real estate builder, today announced a 24.4% drop in net profit at Rs 148.5 crore for the quarter ended September 2011. A year ago during the same period, the company posted a net profit of Rs 196.5 crore.
However, total income rose 14% to Rs 450 crore from Rs 395 crore in September 2010.
At the time of closing of Bombay Stock Exchange on Friday, the company stocks were trading 4.5% lower at Rs 91.
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