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Realty firm Housing Development and Infrastructure Ltd (HDIL) has reduced its gross debt by Rs 237 crore in the last fiscal at Rs 4,082.31 crore on higher sales.
The company’s debt stood at Rs 4,319.76 crore at the end of fiscal 2010-11.
In an investors’ presentation, the Mumbai-based company said its consolidated gross debt reduced by Rs 237 crore in financial year 2011-12, which is 5.5 per cent lower than the previous year.
The consolidated net debt stood at Rs 3,855.53 crore as on March 31, 2012, as the company had a cash balance of Rs 226.78 crore, it added.
Last month, HDIL reported a 70 per cent rise in consolidated net profit at Rs 315.51 crore for the quarter ended March 31, 2012, against Rs 185.21 crore in the year-ago period.
The revenue rose by 13 per cent at Rs 625.12 crore in the fourth quarter of last fiscal as against Rs 552.65 crore in the corresponding period of the previous year.
During the entire 2011-12 fiscal, HDIL’s net profit fell marginally to Rs 809.83 crore from Rs 821.75 crore in the previous year. The revenue rose by 7.5 per cent to Rs 2,006.41 crore from Rs 1,865.47 crore in the review period.
The company currently has 22 ongoing projects aggregating to 87.88 million square feet. Of that housing accounts for about 37 million sq ft.
HDIL had total land reserves of 231.63 million sq ft (saleable area) as on March 31, 2012.
The company’s shares were trading at Rs 66.80 on the BSE in late afternoon trade today, up 4.7 per cent from the previous close.
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