Housing Development and Infrastructure (HDIL) has received revised credit rating from rating agency, CARE for its various securities. The rating agency has revised BBB+ rating to the company’s Non Convertible Debentures (NCD) from A rating.
Further, the rating agency has revised A3+ rating to the company’s Rs 200 crore short term NCD from A2+ rating.
The company posted a fall of 51.01% in its net profit at Rs 96.67 crore for the quarter ended March 31, 2012 as compared to Rs 197.31crore for the same quarter in the previous year. Total income decreased by 68.30% at Rs 167.17 crore for quarter under review as compared to Rs 527.41 crore for the quarter ended March 31, 2011
