HDIL in talks to restructure Rs 1,275-crore loans

Mumbai-based real estate firm Housing Development and Infrastructure (HDIL) said it was in talks with banks to restructure as much as Rs 1,275 crore worth of loans. These loans are expected to mature in 2009-10.

The move comes after the realty company successfully restructured debt worth Rs 650 crore owed to public sector banks. The new repayment schedule will begin after 18 months and extends to five years, a company official said.