HDIL

HDIL (Housing Development and Infrastructure Limited) 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.[1] HDIL has an integrated in-house development team which covers all opment from project identification and inception through construction to completion and sale.

'Housing Development and Infrastructure Limited'
Listed
Traded asNSE: HDIL
BSE: 532873
IndustryConstruction
FoundedMumbai (1996)
HeadquartersMumbai India
Key people
Rakesh Kumar Wadhawan (Chairman)
RevenueRs 8892 crore US$ 1.8 billion (August 2015)
Number of employees
1142 (2012)
Websitewww.hdil.in

The Mumbai Police has filed a case against the former bank management and promoters of HDIL in the Punjab and Maharashtra Cooperative Bank (PMC Bank) case and said a special investigation team will be probing the case. The bank's former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with the director of HDIL, Wadhawan, have been named in the FIR. Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch.

Home-buyers of HDIL have recently filed a plea in National Company Law Appellate Tribunal as they have been affected by the delay of the Nahur project.[2]

History

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.[3]

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.

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.

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's turnover from sales of projects, developed land and land development rights for the financial years ended 31 March 2008, 2007, 2006 were Rs. 2380 crore, Rs. 1204 crore, Rs. 434 crore, respectively, and the restated profit after tax for financial years ended 31 March 2008, 2007 and 2006 were Rs. 1409 crore, Rs. 743 crore and Rs. 1,172 crore respectively.[4] HDIL launched an IPO in July 2007 and is currently listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).[5] [6]

gollark: Well, yes, but they're byte sequences.
gollark: I mean, it's better than C and stuff, and I wouldn't mind writing simple apps in it.
gollark: Speaking specifically about the error handling, it may be "simple", but it's only "simple" in the sense of "the compiler writers do less work". It's very easy to mess it up by forgetting the useless boilerplate line somewhere, or something like that.
gollark: Speaking more generally than the type system, Go is just really... anti-abstraction... with, well, the gimped type system, lack of much metaprogramming support, and weird special cases, and poor error handling.
gollark: - They may be working on them, but they initially claimed that they weren't necessary and they don't exist now. Also, I don't trust them to not do them wrong.- Ooookay then- Well, generics, for one: they *kind of exist* in that you can have generic maps, channels, slices, and arrays, but not anything else. Also this (https://fasterthanli.me/blog/2020/i-want-off-mr-golangs-wild-ride/), which is mostly about the file handling not being good since it tries to map on concepts which don't fit. Also channels having weird special syntax. Also `for` and `range` and `new` and `make` basically just being magic stuff which do whatever the compiler writers wanted with no consistency- see above- Because there's no generic number/comparable thing type. You would need to use `interface{}` or write a new function (with identical code) for every type you wanted to compare- You can change a signature somewhere and won't be alerted, but something else will break because the interface is no longer implemented- They are byte sequences. https://blog.golang.org/strings.- It's not. You need to put `if err != nil { return err }` everywhere.

References
  1. Market, Capital (15 January 2018). "HDIL jumps after special committee OKs allotting warrants to promoter". Business Standard India. Retrieved 27 January 2018.
  2. "Homebuyers in HDIL's Nahur Project file plea in NCLAT". Economic Times. 28 October 2019.
  3. "HDIL to invest Rs 150 crore on housing project in Mumbai". The Economic Times. 23 October 2015. Retrieved 27 January 2018.
  4. Seth, Dilasha (25 May 2012). "Big builders reduce land banks by half as they cut inventory, debt". Business Standard India. Retrieved 27 January 2018.
  5. "Market Now: BSE Midcap index underperforms benchmark Sensex". The Economic Times. 2018. Retrieved 27 January 2018.
  6. Cash Home Buyers Dallas

https://economictimes.indiatimes.com/industry/banking/finance/hdil-its-promoters-have-to-repay-loan-to-pmc-bank-hc/articleshow/72885699.cms

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