The company's total income for the period dropped to Rs 99.98 crore from Rs 453.89 crore year-ago, it said.
Commenting on the results, HDIL Vice Chairman and Managing Director Sarang Wadhawan said, "Since we are following project completion method of accounting, turnover for the quarter could not be compared as there were no projects due for completion."
He further said the company has reduced debt by Rs 162 crore to Rs 3,640 crore.
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