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Debt is likely to be reduced by 20-25% in Q4FY12: HDIL
Realty player Housing Development and Infrastructure (HDIL) has declared its third quarter results. Sarang Wadhawan, vice chairman and managing director of HDIL says, the debt is likely to be reduced by 20-25% in Q4FY12.
Realty player Housing Development and Infrastructure (HDIL) has declared its third quarter results. The company's consolidated net profit stands at Rs 156 crore versus Rs 251.9 crore on year-on-year (YoY) basis.
Its consolidated net sales are at Rs 423 crore versus Rs 455.4 crore on YoY basis.
Addressing a press conference Sarang Wadhawan, vice chairman and managing director of HDIL says, 90% of the total revenue is from FSI sales and 10% is from TDR sales. He expects DCR amendments to result in higher TDR demand.
Commenting on the debt situation of the company, Wadhawan says, the debt currently stands at Rs 4,100 crore. According to him, the debt is likely to be reduced by 20-25% in Q4FY12.
The stock closed at Rs 104.10, up Rs 6.65, or 6.82%. It touched an intraday high of Rs 104.90 and an intraday low of Rs 95.50. There were pending buy orders of 15,329 shares, with no sellers available.
