Housing Development and Infrastructure (HDIL) is currently trading at Rs. 7.95, up by 3.70 points or 5.27% from its previous closing of Rs. 70.25 on the BSE.
The scrip opened at Rs. 70.50 and has touched a high and low of Rs. 74.40 and Rs. 70.20 respectively. So far 20,70,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.90 on 07-Apr-2011 and a 52 week low of Rs. 52.10 on 02-Jan-2012.
Last one week high and low of the scrip stood at Rs. 74.40 and Rs. 55.10 respectively. The current market cap of the company is Rs. 3,098.00 crore.
The promoters holding in the company stood at 39.17% while Institutions and Non-Institutions held 40.44% and 20.39% respectively.
Housing Development and Infrastructure, a Mumbai-based real estate company, is in close stage of selling nearly two acres land parcel in Andheri suburb of Mumbai. The deal which will include developmental rights is expected to fetch HDIL over Rs 300 crore and will be transacted with another realty developer.
The above plot is part of a large parcel on which HDIL is constructing a residential project Metropolis with saleable area of 650,000 square feet. The company was also planning to construct around one million square feet of commercial space as part of this mixed-use project. Out of the commercial projects, the company had already pre-leased around 10% of the space that was earmarked for retail development.
The company has taken this step with an aim to reduce its debt burden. The developer's net debt stood at Rs 3,944.78 crore till end of September with debt equity ratio of 0.4 times.
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).