HDIL finds place in BSE realty index

MUMBAI: Real estate firm Housing Development and Infrastructure Ltd has been inducted in the newly launched realty index on the Bombay Stock Exchange, which includes the likes of DLF, Unitech and Indiabulls.

HDIL would be be included in the BSE realty index, comprising of 11 stocks currently from August 1, a BSE circular said.

While the firm has replaced Manugraph India in the BSE 500 index, HTMT Global Solutions has been included in the index in place of Federal Mogul Goetze (India), the circular said.

HDIL had listed on the bourses on July 24 with a premium of over 13 per cent on the BSE. It entered the bourses with 21 crore equity shares with an issue price of Rs 500 per share.

The proceeds of the issue would be utilised to finance the acquisition of land and land development rights for its ongoing and planned projects and construction of ongoing projects.

HDIL, part of the Wadhawan Group, has 112.1 million square feet of saleable area as of May 31, of which almost 83 per cent is in the Mumbai Metropolitan Region. The company is working on 45.5 million square feet of saleable area at present.