In a bid to trim its debt, HDIL is planning to sell its industrial plot in Gujarat. The 113.47-acre land parcel is adjacent to the Ranoli railway station, on the Ahmedabad-Vadodara corridor, and falls under the jurisdiction of Vadodara Urban Development Authority. Besides reducing debt, the on-going strategy of HDIL is to focus on project launches and sales.
Over the last year, the company has reduced its debt by nearly Rs 685 crore to Rs 3,142.4 crore as of December 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).
