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Moneycontrol.com >> Messageboard >> Stocks >> HDIL >> HDIL .........
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HDIL ......... (2)   09-Jul-08 16:20Tracked by (0)  
Posted by:   latikav on ( 09-Jul-08 16:20 )
Price : BSE: Rs 451.15 ( 7.69 % ), NSE: Rs. 451.75 ( 7.76 % )
Housing Development & Infrastructure plans to buy stakes in media and entertainment companies to widen its portfolio.
Recently, Housing Development & Infrastructure (HDIL) picked up 51% stake in Sri Adhikari Brothers promoted Broadcast Initiative (BIL) and two of its subsidiaries. The company (HDIL) is integrating BIL into HDIL Entertainment, HDIL’s media and entertainment arm. Last year, the company said it would invest Rs 1000 crore to open 150 multiplexes by 2009 and the company has already opened three multiplexes in Mumbai.

As per recent reports, the company is also planning to foray into film production, distribution and studio facilities. It also plans to foray into power and oil and gas exploration, reports added.

Earlier this year, HDIL bagged a slum rehabilitation project from the Maharashtra government aimed at rehabilitating slums in and around Mumbai airport spread over an area of 276 acres.

HDIL reported a net profit of Rs 708.25 crore on net sales of Rs 975.08 crore in Q4 March 2008. Figures of the corresponding previous year period were not available.

A Wadhawan group realty firm, HDIL has significant operations in the Mumbai metropolitan region.

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