Hari Prakash Pandey, VP-Finance, Housing Development & Infrastructure Limited, has been associated with HDIL since December 2005. He is a Chartered Accountant and has done his MBA (Finance) from Apsema & Latrobe University (Melbourne University). He has received Appreciation Letter for being nominated for Best CA Award 2008 and 2009 under Infrastructure & Real Estate Category in India from Institute of Chartered Accountant of India. In HDIL, he is a part of top management team and key member involved in Corporate Financial strategies & policies, fund raising and Investor Relations.
Housing Development & Infrastructure Limited has developed over 100 million sq. ft. area. The operations are spanning in every aspect of the real estate business, from residential, commercial and retail projects, to slum rehabilitation to land development. It has also diversified into energy, hospitality and the development of SEZs. It is a major player in Mumbai Realty with 90% land Reserves in the Mumbai Metropolitan Region (MMR) and are market leaders in residential and SRA projects in the Mumbai Metropolitan Region (MMR) and are currently executing the largest SRA project for rehabilitation of approx. 85,000 slum dwellers under expansion & modernization of Chhatrapati Shivaji International Airport, Mumbai.
Following are the key highlights of the conference call conducted by Housing Development & Infrastructure Limited after its latest quarterly results.
“We are expecting better demand for the residential segment over the next three to six months despite slack macro economic conditions.” said Hari Prakash Pandey
Brief us about your ongoing projects?
We are planning various projects. We have about 22 ongoing projects with a combination of Residential, Commercial and SRA.
Our ongoing projects are located at Virar, Andheri, Goregoan, Bhandup, Palghar and Mulund.
We are currently executing the largest SRA project for rehabilitation of approximately 85,000 slum dwellers under expansion & modernization of Chhatrapati Shivaji International Airport, Mumbai.
The four projects nearing completion are Premier Residences in Kurla, Metropolis Residences in Andheri, Residency Park in Virar and an industrial park in Virar.
HDIL also plans to convert two of its commercial projects with an area of 2.4 million sq ft into residential ones.
Brief us about your financials?
Housing Development & Infrastructure Ltd. (HDIL) has posted a profit after taxes, Minority Interest and Share of Profit of Associates of Rs. 1053.80 mn for the quarter ended June 30, 2012 as compared to Rs. 1894.30 mn for the quarter ended June 30, 2011.
Total Income has decreased from Rs. 5203.50 mn for the quarter ended June 30, 2011 to Rs. 2105.80 mn for the quarter ended June 30, 2012.
EBITDA margin stood at 76.70% to Rs 1.66bn.
What are your plans for FY13?
Our forthcoming projects will come up in Kandivali, Ghatkopar, Pune, Kurla and Santacruz.
We are expecting property demand to come back. We recently launched a couple of new projects in Exotica.
Since underlying demand is very strong for HDIL projects in execution, we are getting tremendous response from this market.
We are expecting better demand for the residential segment over the next three to six months despite slack macro economic conditions.
What is your land bank?
HDIL has land bank of 229.93 mn sq ft as on 30th June, 2012.
What are the current TDR prices?
Current TDR price is ~ Rs 2500 to Rs 3000 per sq. ft.
What is your current gross debt?
Our gross debt as on 30th June stood at Rs40.40bn.
The Consolidated Gross Debt reduced by Rs 2.03bn in the last six months.