HDIL
 | |
| Type | Listed |
|---|---|
| Industry | Construction |
| Founded | Mumbai (1996) |
| Headquarters | Mumbai, India |
| Key people |
Rakesh Wadhawan, Executive Chairman, Sarang Wadhawan, Managing Director |
| Revenue | Rs 23803.7 million |
| Employees | 542 (2006) |
| Website | www.hdil.in |
HDIL is a listed real estate development company in India, with significant operations in the Mumbai Metropolitan Region. HDIL's business focuses on Real Estate Development, including construction and development of residential projects and, more recently, commercial and retail projects, Slum Rehabilitation and Development, including clearing slum land and rehousing slum dwellers, and Land Development, including development of infrastructure on land which the company then sells to other property developers. HDIL has an integrated in-house development team which covers all opment from project identification and inception through construction to completion and sale.
Since incorporation in 1996, HDIL has developed 23 projects covering approximately 19,290,000 square feet (1,792,000 m2) of saleable area, including approximately 12,730,000 square feet (1,183,000 m2) of land sold to other builders after Land Development, primarily in the Mumbai Metropolitan Region. HDIL also have constructed an additional 1,900,000 square feet (180,000 m2) of rehabilitation housing area under slum rehabilitation schemes.
HDIL's residential projects generally comprise groups of apartments, towers or larger multi-purpose “township” projects in which individual housing units are sold to customers. The commercial projects are a mix of office space and multiplex cinemas. The retail projects focus on shopping malls. They usually follow a “build and sell” model for the properties they develop.
Usually their possession is delayed by several years. And also they are known for not delivering promised amenities and sometime seek additional monies which are not part of agreement from customers before giving them possession(Give us our new homes, say protestors,Page no: 5, Mid-Day, 25th Jan 2014).[1]
HDIL also undertakes slum rehabilitation projects under a Government scheme administered by the Slum Rehabilitation Authority (SRA), whereby developers are granted development rights in exchange for clearing and redeveloping slum lands, including providing replacement housing for the dislocated slum dwellers. The company has also bagged the prestigious Mumbai Airport Slum Rehabilitation Project to rehabilitate the slum dwellers located on 276 acres (1.12 km2) of Mumbai Airport land.
Although historically HDIL has focused on real estate development in the Mumbai Metropolitan Region, as part of their growth strategy they are considering projects in other locations, including Kochi and Hyderabad. They also are considering expanding into hotel projects, special economic zone(SEZ) developments and “mega-structure” complexes, which are large-scale mixed-use retail, commercial and residential developments.
HDIL's total land reserves comprise approximately 124,800,000 square feet (11,590,000 m2) of saleable area to be developed through 35 Ongoing or Planned projects.
HDIL is part of the Wadhawan Group which has been involved in real estate development in the Mumbai Metropolitan Region for almost three decades. As of December 31, 2006, the Wadhawan Group has developed approximately 62,100,000 square feet (5,770,000 m2) of saleable area and, additionally, has constructed approximately 16,300,000 square feet (1,510,000 m2) of rehabilitation housing area under slum rehabilitation schemes. HDIL's promoters are Rakesh Kumar Wadhawan and Sarang Wadhawan. Sarang Wadhawan is the Managing Director of HDIL.
HDIL's turnover from sales of projects, developed land and land development rights for the financial years ended March 31, 2008, 2007, 2006 were Rs. 23803.7 million, Rs. 12040 million, Rs. 4,348.6 million, respectively, and the restated profit after tax for financial years ended March 31, 2008, 2007 and 2006 were Rs. 14098.4 million, Rs. 5430 million and Rs. 1,172.9 million respectively.
HDIL launched an IPO in July 2007 and is currently listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).