Housing Development and Infrastructure (HDIL) will reduce its debt by another Rs 600 - Rs 800 crore by FY15 end. The company is also looking to monetize its land parcel outside Mumbai.
The company has recently 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 has been part of the group’s strategy to exit its non-core business and fully focus on its core business.
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).
