HDIL sales bookings rises 14% to Rs 389 cr in Oct-Dec period

Realty firm Housing Development & Infrastructure Ltd's (HDIL) sales bookings increased by 14 per cent to Rs 389.19 crore during the October-December period.
The company's net debt declined to Rs 2,890.55 crore as on December 31, 2015, from Rs 2,970.41 crore at the end of the September quarter, according to an analyst presentation.
Mumbai-based HDIL said that it has reduced its gross debt by 23 per cent to Rs 3,179.01 crore from Rs 4,137.95 crore in the last three years.
Last week, HDIL reported a consolidated net profit of Rs 92.95 crore for the December quarter as against Rs 67.29 crore in the year-ago period.

Total income stood at Rs 329.09 crore in the third quarter of this fiscal from Rs 359.48 crore in the corresponding period of the previous year.
HDIL Group has completed construction of 100 million sq ft area since its inception in 1977. It has delivered more than 1.5 lakhs homes.

The company has 22 ongoing projects and about 46 million sq ft area under construction.
"Possession handed over in last 24 months is approximately 2,500 residential units. In the next 12-18 months we will hand over 4,500 residential units," the presentation said.
On its upcoming 550 acre township project 'Planet HDIL', the company said it is in "advanced stage to close first large FSI sale transaction".

HDIL has also initiated discussion with large warehousing, logistics park, cash and carry stores in and around this township project to create potential job opportunities, the firm added.