PBT Margins have improved by 55% over the first quarter 2009-10; HDIL Income at Rs.381.04 crores for the 2nd quarter 2009-10, impressive growth of 20% as compared to 1st quarter 2009-10.
— Housing Development and Infrastructure Limited (HDIL), a leading real estate developer has announced its results for the second quarter ended 30th September 2009. The Turnover stands at Rs. 381.04 crores and PAT available for appropriation is Rs. 148.59 crores.
Commenting on the results, Mr. Sarang Wadhawan, Managing Director of HDIL said -“As the market confidence is coming back we are expecting a healthy rise in demand for our affordable residential properties & TDR. PBT margins have improved by over 50 % as compared to 1st quarter 2009-10.” He added, “Currently we have launched around 4 million sq.ft. of commercial projects including industrial park at Virar, HDIL plans to launch 4-5 million sq.ft. of residential projects over next four to six months”.
Source: Press release distribution via India PRwire
Notes to Editor
Housing Development and Infrastructure Ltd. (HDIL) is a listed on the National Stock Exchange as well as the Bombay Stock Exchange and is one of the largest Real Estate development companies in India. It is the flagship construction and real estate development company of HDILGroup. HDIL has a significant presence in Mumbai Metropolitan Region, and also in Pune, Hyderabad & Kochi. The company has been involved in many urban renewal projects and is currently executing the Mumbai International Airport rehabilitation project, the largest such project in India. HDIL with an estimated land reserve of nearly 197 million sq ft as on Spetember 30tht, 2009 has over three decades of experience in the real estate business and has developed over 100 million sq. ft. area.
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