HDIL setting record date for bonus issue

Housing Development & Infrastructure rose 0.87% to Rs 517.50 at 10:48 IST on BSE after the company fixed 22 August 2008 as the record date for issue of bonus shares in the ratio of 2:7.

The company announced the record date after trading hours on Wednesday, 23 July 2008

The stock hit a high of Rs 529.70 and a low of Rs 509.10 so far during the day. The stock had a 52-week high of Rs 1432 on 10 January 2008 and a 52-week low of Rs 326.50 on 2 July 2008.

The company has an equity capital of Rs 214.27 crore. Face value per share is Rs 10.

The current price of Rs 517.50 discounts its Q1 June 2008 annualised EPS of Rs 59.35, by a

PE multiple of 8.72.

Earlier this year, Housing Development & Infrastructure (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’s net profit rose 56.9% to Rs 317.93 crore on 28.6% increase in net sales to Rs 570.08 crore in Q1 June 2008 over Q1 June 2007.

A Wadhawan group realty firm, Housing Development and Infrastructure (HDIL) has significant operations in the Mumbai metropolitan region.