HDIL denies on sale of commercial complex in Mumbai 07/07/2014

HDIL denies on sale of commercial complex in Mumbai
07/07/2014 17:33
Real estate developer Housing Development and Infrastructure Ltd on Monday said that the news which appeared in the media saying HDIL to sell commercial complex in Mumbai Suburb to cut debt is speculative at all. The company explained in response to the clarification sought by Exchange. In a filing to the Bombay Stock Exchange, the company informed, “We refer to the said article as mentioned in the trailing mail, whereby, Hari Prakash Pandey, Vice President - Finance & Investor Relations, clearly declined to comment on the alleged sale of commercial property at Kurla. No transaction or agreements have been entered into which needs to be disclosed to stock exchanges pursuant to clause 36 of the listing agreement. Sufficient disclosures and information have been provided to the stock exchanges on regular basis and in timely manner.” Further, the company is carrying business of real estate and hence buying and selling of land are integral part of the its activities. Hence, we have not released any direct release or the said article, it said. Meanwhile, shares of the company closed at Rs 99.25 a piece, down 3.78 per cent, from previous close on BSE.