HDIL Sells Development Rights on Kurla Land Parcel for Rs 649 Crore
Dec 22, 2015


Mumbai: Realty player Housing Development and Infrastructure Ltd (HDIL) has sold development rights on its land parcel at Kurla to DK Realty (India) for Rs 649.51 crore.

"HDIL has registered a development agreement with DK Realty (India) to sell the development rights in respect of the piece and parcel of land situated at Kurla for a consideration of Rs 649.51 crore," the company said in a filing to the BSE.

HDIL has several projects in the Mumbai metropolitan region and has developed over 100 million square feet area of commercial, residential and retail space.

The company has a land reserve of 243.99 million square feet as on March 31 and has around 40,00,000 square feet of TDR.

Shares in HDIL, on Monday, ended 6.19 per cent higher at Rs 70.35 apiece on the BSE, whose benchmark Sensex index finished up 0.85 per cent.

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