HDIL rolls over a debt of Rs 2500 cr from banks

Continuing the trend set in the realty sector of sticking with banks for debt, realty major Housing Development and Infrastructure  (HDIL) has taken over Rs 2,500 crore debt from commercial banks for the next 15-18 months, the company has disclosed.

The banks from where the company has resorted to are public sector banks such as Bank of India, Union Bank of India, Punjab National Bank and Uco Bank, among others.

Out of the total liabilities of around Rs 4,000 crore in its balance sheet, it has borrowed Rs 3,000 crore in the first half of this year, mainly for its airport rehabilitation project in Mumbai.