HDIL Q2 PAT up by 43.25%
- Total Income has increased 6.69% YOY
- PAT up by 43.25% YOY
- EBITDA margins improved 30.94% YOY
Housing Development and Infrastructure Limited (HDIL), one of the largest real estate companies has announced its financial results for Quarter ended 30th September 2010 in its board meeting held today. Total Income stands at Rs.406.53 crores and PAT available for appropriation is Rs.212.86 crores.
Commenting on the company’s performance, Mr. Sarang Wadhawan, Managing Director, HDIL said “Our strong financial results represent the robust performance of our company. There has been a significant percentage rise in profits by 43.25% compared to the same quarter of the previous financial year. Our focus will continue to remain on execution of affordable housing properties within our existing land banks as we see a healthy rise in demand for this category. Approximately 87 million sq. ft. sale area of projects is currently under construction which includes 20 ongoing projects with a combination of Residential, Commercial & SRA”.
Key Business Highlights:
- HDIL raised USD 250 million through sale of shares to qualified institutional investors to finance the working capital requirements of projects
- HDIL launched Whispering Towers, a residential project in Mulund (W)
- Over a period of one year, HDIL has launched 9 residential projects and sold more than 5000 apartments
- Our ongoing residential projects are 8 million sq ft and HDIL plans to launch residential portfolio of approximately 27 million sq ft in next six months. The projects will be in various parts of Mumbai suburbs along with an affordable township project in Palghar and approximately 850 integrated villa schemes in Kochi
- HDIL has entered into hospitality segment and tied up with Conrad for Juhu hotel and Crown Plaza to set up a Business/ Leisure hotel at Andheri Metropolis
About Housing Development and Infrastructure Ltd. (HDIL)
Housing Development and Infrastructure Ltd. (HDIL) is among the top five listed companies in India, active on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) since July 2007. With a land reserve of 240.94 million square feet as on 30th September 2010, 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.
HDIL is currently executing the largest SRA project for rehabilitation of approx. 85,000 slum dwellers under expansion & modernization of Chhatrapati Shivaji International Airport, Mumbai Approx. 33,000 housing units is under construction for MIAL Slum Rehabilitation Project
For additional information, you may visit www.hdil.in