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Housing Development and Infrastructure Limited
Sector:Real Estate Real Estate - Real Estate
BSE:532873NSE:HDILBloomberg:HDIL@INReuters:HDIL.BO
Market Lot: 1Face Value: 10ISIN Demat: INE191I01012
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06-Mar-2017
Business Profile
Housing Development and Infrastructure (HDIL) is a Mumbai-based company primarily engaged in the development of residential, commercial, retail properties and is also involved in the slum rehabilitation scheme. Incorporated as a private limited company on July 25, 1996 and converted into a public limited company with the present name on Aug. 29, 2006, it is part of the Wadhawan Group (formerly known as the Dheeraj Group), which has been involved in real estate development in the Mumbai metropolitan region for almost three decades.

HDIL has completed a total of 24 projects aggregating approximately 11.3 million sq. ft. of saleable area and has sold 5.7 million sq. ft. of land development in Virar and Agashi to other real estate developers. It has constructed approximately 2.28 million sq. ft. under the slum rehabilitation scheme. About 45.52 million sq. ft. of work is under construction; residential includes Sasunavghar property in Vasai measuring 16.66 million sq. ft. and Kukatpally -I & II projects in Hyderabad admeasuring 7.32 million sq. ft. spread across 52.77 acres to be completed around 2011-2012; commercial properties are at Kandivali and Worli comprising of 0.13 million sq. ft. of lettable commercial real estate.

With land reserves spread across three states of India admeasuring 112.1 million sq. ft., the company is to diversify into special economic zones (SEZs). It has five joint ventures including a slum rehabilitation scheme venture with Reliance Construction Company on a profit-sharing ratio of 69%. Memorandum of understandings for the purchase of 8.32 acres of Kilburn Engineering property in Bhandup for Rs 1,247 million and 15 acres of Eveready Industries property in Navi Mumbai for Rs 1.15 billion are in place. Early in 2008, it entered into sale of developmental rights agreement for its project named Kaledonia in Andheri (East) with Mack Star Marketing for a consideration of Rs 9,000 million. HDIL Entertainment, a wholly-owned subsidiary, and three multiplexes in Mumbai are part of the company`s venture into the entertainment sector under the brand name Broadway.

The registered and corporate office is at 9-01, Dheeraj Arma, Anant Kanekar Marg, Bandra (East), Mumbai 400051.


Financials
The company reported rise of 28.18% in consolidated net profit on y-o-y basis to Rs 408.90 million, while total income dropped 100.00% y-o-y basis to Rs 0.00 million for the quarter ended June 2016.

Recent Developments
06-MAR-17
Housing Development and Infrastructure (HDIL) has received an approval for divesting its 100% shareholding of its wholly owned subsidiary company 'Excel Arcade'. The Finance Committee of the board at its meeting held on March 4, 2017, has approved for the same.

12-SEP-16
Housing Development and Infrastructure disclosed a steep drop in consolidated net profit for the quarter ended June 2016. During the quarter, the profit of the company declined 30.01% to Rs 408.90 million from Rs 584.20 million in the same quarter previous year.

21-DEC-15
Housing Development and Infrastructure (HDIL), the real estate development company in India, announced that the company has registered a development agreement with DK Realty (India) Private to sell the development rights in respect of the piece and parcel of land situated at Kurla, Mumbai, for a consideration of Rs 6.49 billion.

10-NOV-15
Housing Development and Infrastructure (HDIL) disclosed a marginal decline in consolidated net profit for the quarter ended September 2015. During the quarter, the profit of the company declined 6.58% to Rs 577.90 million from Rs 618.60 million in the same quarter previous year.

23-OCT-15
Housing Development and Infrastructure (HDIL), the real estate development company in India, is all set to launch two mega projects in Virar (East) and Ghatkopar (East).

23-JUN-15
Goldman Sachs Singapore Pte has sold 0.59% stake in Housing Development & Infrastructure (HDIL) on Monday for Rs 222.27 million. It sold 2.48 million shares at an average price of Rs 89.29 a share on the Bombay Stock Echange (BSE).

18-MAY-15
Marginally increase the TP by 10% to Rs114 to factor in FY16E debt in our NAV calculation (from FY15 debt earlier). We make minor revisions to FY16/17E EPS (~1%). We view the improvement in balance sheet (through reduction of debt) and focus on execution as steps in the

15-MAY-15
quarter ended March 2014, the company had sold its investment in an associate company and sale consideration was part of other income amounting to Rs. 444.5 million. In the same



Future Plans
With land reserves spread across three states of India admeasuring 112.1 million sq. ft., the company is to diversify into special economic zones (SEZs).




In Brief

 
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