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HDIL Announces Q1 Results- Reports 52.26% Rise in Revenues 02/08/2010
New Delhi Housing Development and Infrastructure Limited (HDIL), a leading real estate developer has announced its results for Q1 ended 30th June 2010. The Turnover stands at Rs. 450.92 crores and PAT available for appropriation is Rs. 234.31 crores. Commenting on the results, Sarang Wadhawan, Managing Director of HDIL said “We are very pleased to report strong financial results including a significant percentage rise in revenues by 52.26% compared to the same quarter of the previous financial year.”

Wadhawan further added, “The Indian economy and realty market are projected to grow favorably, thereby providing us with the opportunity to further expand and consolidate our presence in the real estate market.” HDIL plans to launch four to six million square feet of residential projects in the current financial year. Phase 1 of Mumbai International Airport Slum Rehabilitation project, a Vital Public Project, is on schedule. HDIL launches ‘The Meadows’ at Goregaon, 75% of the project sold off in the first week.

HDIL Entertainment (100% subsidiary of HDIL) currently operates 13 screens and plans to add 10 screens within a year in Mumbai. The company will also expand on a PAN India basis with flagship multiplex projects in cities like Kolkata.
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