HDIL announces 3rd Quarter Results: Consolidated 3rd Quarter Income Rs. 440.32 crores YOY

• Profit after Tax is Rs. 155.79 crores
• EBIDTA margins stands at 174.86 crores YOY
• Debt-Equity ratio is 0.42

Housing Development and Infrastructure Limited (HDIL), one of the largest real estate company’s in the country has announced its results for Q3 ended 31st December 2011. The consolidated total income of the company year on year stands at Rs. 440.32 crores.

Commenting on the quarter results, Mr. Sarang Wadhawan, Vice Chairman and Managing Director of HDIL said, “We are pleased to report moderate growth this quarter taking into perspective the macro real estate market scenario. We will continue to focus on reducing our debt considerably in the coming quarters through monetisation of FSI sales and Internal accurals. While we understand the limitations, and uncertainties that have been following the wake of the real estate sector over the past quarters, we are confident that the fundamentals that drive the sector in India are cyclical and extremely robust. We are hoping that the Government takes realistic measures for the sector during the upcoming Union Budget, understanding the crucial role the sector plays in country’s overall economy.”

About Housing Development and Infrastructure Ltd. (HDIL)
Housing Development & Infrastructure Limited (HDIL) has established itself as one of India’s premier real estate development companies, with significant operations in the Mumbai Metropolitan Region. With a land reserve of 234.04 million square feet as on 31st December 2011, HDIL has about three decades of experience in the real estate & infrastructure domain having developed over 100 million sq. ft. area of commercial, residential and retail space.
The Company has been a major player in Mumbai Realty with 90% land Reserves in the Mumbai Metropolitan Region (MMR) and a market leader in Residential and SRA projects.

HDIL is currently executing the largest SRA project for rehabilitation of approx. 85,000 slum dwellers under expansion & modernization of Chhatrapati Shivaji International Airport, Mumbai Approx. 33,000 housing units is under construction for MIAL Slum Rehabilitation Project.

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