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).
HDIL is reportedly aiming to cut down its debt by 25 percent to Rs 2300 crore by March next year from around Rs 2900 crore. Meanwhile, the company has offloaded hospitality business and multiplex business. Moreover, the company is currently looking at a couple of other major properties that it can get into, some Floor Space Inde (FSI) transactions.
Vasai, Virar will form a huge part of this debt reduction process. It has other areas outside of Mumbai where the company is looking at monetising those assets.
The promoters holding in the company stood at Rs 36.16% while Institutions and Non-Institutioins held 41.64% and 22.20% respectively.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 113.85 on 9-Jun-2014 amd a 52 week low of Rs 26.50 on 22-Aug-2013.
HDIL current price of Rs 99.15, up by 4.60 points from its preivous closing of Rs 94.55 on the BSE.
No comments:
Post a Comment