Housing Development and Infrastructure (HDIL) has sold its entire holding in HDIL Entertainment, which runs 33 multiplexes under the brand name Kulraj Broadway, to Carnival Films for Rs 105 crore.
The sale of HDIL Entertainment to Carnival Films has been part of the group’s strategy to exit its non-core business and fully focus on its core business. This will also enable HDIL to reduce its debt as planned.
As on March 31, 2013, consolidated net debt of the company stood at Rs 3,284.76 crore, while standalone debt was Rs 2,441 crore. The company reduced its debt by around Rs 600 crore in the year ended March 2014.
HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).
Company Name | CMP |
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Dilip Buildcon | 457.10 |
Macrotech Developers | 1124.45 |
NBCC (India) | 131.00 |
Prestige EstatesProj | 1481.60 |
DLF | 839.20 |
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