HDIL to sell land parcels in Mumbai, Hyderabad to pare debt.

Housing Development and Infrastructure Ltd. (HDIL) plans to raise up to Rs. 1,800 crore this fiscal by selling stakes in some of its assets to partly repay its debt by around Rs. 600-700 crore in FY15.

The realty firm wants to sell off its 100-acre land parcel in Hyderabad and some of its commercial projects in Mumbai this fiscal.

'We want to monetise our assets where we have around 40-45% stake in joint venture projects. Our focus for the fiscal will be reducing our debt by selling assets,' HDIL Vice-President (Finance & Investor Relations) Hari Prakash Pandey told PTI here.


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