Sarang Wadhawan

The money laundering case stems from an FIR registered by the Mumbai Police's Economic Offences Wing (EOW) against Guru Ashish Construction Pvt Ltd. and others. The Wadhawans were the directors of this company.

CBI books HDIL promoters Rakesh and Sarang Wadhawan in fresh case of Rs 140 crore bank fraud

The fresh action was initiated on a complaint from the Union Bank of India against the businessmen who are embroiled in a Rs-4,300 crore Punjab and Maharashtra Cooperative (PMC) Bank scam case, officials said.

CBI books HDIL promoters Wadhawans for Rs 200-crore loan fraud in Yes Bank: Officials

It is alleged that Yes Bank had given loan to Mack Star in which HDIL was a minority shareholder.

PMC Bank scam: Anu Wadhawan drew Rs 70 lakh/month pay; unaware of source of funds behind her bungalows

Wives of Sarang and Rakesh Wadhawan owned a vast number of properties but claim to be unaware of the source of funds for the purchases.

PMC Bank-HDIL scam: Former bank MD Joy Thomas to be in EOW custody till October 17

The Wadhawans were arrested in connection with the Punjab and Maharashtra Co-operative (PMC) Bank scam by the Economic Offenses Wing (EOW) of the Mumbai police on October 3.

PMC Bank crisis: Sarang, Rakesh Kumar Wadhawan sent to police custody till Oct 9

The EOW also searched the residence of PMC Bank Chairman Waryam Singh on October 3, while also freezing his demat account that is worth Rs 100 crore.

Promoter to infuse up to Rs 150 cr in HDIL

The warrants will be convertible in to equivalent number of equity shares of face value of Rs 10 each, Mumbai-based developer said in a statement.

HDIL Q1 net profit rises 3% to Rs 59.24 crore

Its net profit stood at Rs 57.58 crore in the year-ago period, Mumbai-based HDIL said in a filing to the BSE.

Debt down, focus on project execution for 2 qtrs: HDIL

Over the next two quarter the company will focus on execution of existing projects, given its business in the TDR vertical is looking promising. He expects to realize a rate of Rs 5000 per square feet in TDR.

Hike in FSI premium, ready reckoner rates negative: HDIL

According to Sarang Wadhawan, vice-chairman and managing director of HDIL, builders are likely to pass through the complete increase.

HDIL launches affordable housing project in Mumbai

Premier Legend has got all the necessary approvals and housing loan facilities are also available from leading institutions, the release stated.

To reduce debt by Rs 2500 cr over next few months: HDIL

HDIL plans to sell its Planet HDIL Project in Virar at Rs 4500-5000 per square feet, adding that the project will not affect the company‘s debt position

HDIL's consolidated profit zooms to Rs 65.29 cr

The company today reported a four-fold a rise in total sales during the period under review to Rs 359.50 crore from Rs 89.63 crore in the corresponding period.

Seeing improved sentiments; no serious charges in FIR: HDIL

Sarang Wadhawan, vice-chairman and managing director of HDIL says the overall sentiment among investors has improved. He adds that volumes of residential projects is seeing improvement.

HDIL posts 35.5% rise in Q2 net profit at Rs 57.86 crore

Notwithstanding a decline in sales, realty player HDIL posted a 35.5 percent increase in net profit for the second quarter ended September 30 at Rs 57.86 crore, driven by lower expenses and higher other income.

Expect to reduce debt by 15% by FY15-end: HDIL

"Our Andheri projects will be completed soon and we expect to achieve realisation of Rs 300 crore," Sarang Wadhawan, Vice Chairman & MD, HDIL said.

No money was paid to revoke pledged shares: HDIL

The shares of HDIL surged over 4 percent on the news of promoters revoking all pledged equity shares with IL&FS Trust Co.

HDIL soars 5%, Wadhawan aims to cut 25% debt by FY14-end

Sarang Wadhawan, vice chairman & managing director, aims to cut down the company's debt by 25 percent to Rs 2200-2300 crore by March next year.

Will pare debt to Rs 2300cr; prices to rise by 20%: HDIL

Sarang Wadhawan, vice chairman & managing director, HDIL says Mumbai realty's ticket size will be in the Rs 1.2-1.5 crore range.

Nirmal Bang bearish on HDIL; Presitge & Oberoi top picks

In an interview to CNBC-TV18, Param Desai of Nirmal Bang Institutional Equities shared his reading and outlook on real estate space and particularly HDIL. At Nirmal Bang, their top picks from the realty space are Prestige Estates and DLF, he asserts

HDIL denies bankruptcy talks, mkt chucks land funding tale

Although the management of Mumbai-based realty developer Housing Development Infrastructure (HDIL) refuted claims of bankruptcy, which was born after promoters sold 1 percent stake in open market, the damage done to the stock was too harsh to recover.

Sold 1% equity on Tuesday to fund land buy: HDIL's Wadhawan

"We are aiming at debt reduction; this move was primarily to fund the land acquisition we had entered into about a year back," Wadhwan explained to CNBC-TV18.

HDIL shares drop after vice chairman sells stake

Shares in Housing Development & Infrastructure Ltd (HDIL) fell as much as 15.8 percent on Wednesday after Vice Chairman and Managing Director Sarang Wadhawan sold a partial stake in the company.

HDIL eyes revenues of Rs 2500 cr in FY13

In an interview with CNBC-TV18, Sarang Wadhawan, VC & MD, HDIL said that they have not managed to do a great deal with the Transfer of Development Right (TDR) sales largely due to the lack of clarity about development control regulations (DCR). The company is expecting TDR sales to pick up from the next quarter.

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.