HDIL trims gross debt by Rs 203 crore to Rs 4,040 crore in first half of 2012

21 Aug 2012

Housing Development and Infrastructure (HDIL), in the first six months of the current calendar year has trimmed its consolidated gross debt by 5% amounting to Rs 203 crore, which now stands at Rs 4,040 crore as on June 30. As on December 31, 2011 the company’s gross debt stood at Rs 4,243 crore.

As on June 30, 2012, the company had a land bank of 229.93 million square feet. The realty firm is currently executing 22 projects, which has got approximately 88 million square feet of saleable area with a combination of residential, commercial & SRA (slum rehabilitation). HDIL is executing the largest rehabilitation project of about 85,000 slum dwellers under expansion and modernization of Chhatrapati Shivaji International Airport in Mumbai.

On the consolidated basis, the group has reported rise fall of 44.37% in its net profit after taxes, minority interest and share of profit of associates at Rs 105.38 crore for Q1FY13 as compared to a net profit of Rs 189.43 crore for Q1FY12. The total income of the group has decreased by 59.53% at Rs 210.58 crore for Q1FY13 as compared Rs 520.35 crore for the corresponding quarter previous year.

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