Realty firm HDIl is in talks to sell about 200 acres of land parcels in Baroda and Hyderabad as part of its strategy to offload non-core assets to improve cash-flows and cut debt. The Mumbai-based developer is targeting to reduce its net debt by 15 per cent in this fiscal to below Rs2,500 crore.
“We are in advance stage of discussions to sell our land parcels in Baroda and Hyderabad and expect that the two deals would happen by end of this year,” HDIl Senior V-P, Corporate Finance & Investor Relations, Hari Prakash Pandey told PTI.