Housing Development & Infrastructure Ltd. (HDIL) AI Stock Analysis

• Market Cap: ₹1.01B
• Dividend Yield: N/A
• Average Volume (3M): 47.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 286
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 474,004,000
• 10 Day Avg. Volume: 54,060
• 30 Day Avg. Volume: 47,611
• PEG Ratio: 311.95
• Price to Book (P/B): -0.15
• Price to Sales (P/S): 10.38
• P/FCF Ratio: -869.54
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: ₹2.00 ▼(-17.01% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is held down primarily by weak financial fundamentals (negative equity, high debt, and inconsistent/negative operating and free cash flow) and a soft technical setup (below key moving averages with negative MACD). Valuation impact is neutral due to missing P/E and dividend yield data.

Positive Factors

Redevelopment business model

HDIL's focus on slum rehabilitation and redevelopment creates durable access to development rights and free-sale inventory that it can monetize. This model leverages municipal/regulatory frameworks, producing project pipelines and structural revenue opportunities in constrained Mumbai land markets over months.

FY2025 revenue rebound & gross margin

The material revenue rebound and ~33% gross margin in FY2025 indicate project-level economics can be strong and that sales recognition recovered. Sustained top-line recovery and improved project margins would provide a firmer base for operating leverage and more durable cash inflows if execution continues.

Relatively stable asset base

A relatively stable asset base gives HDIL tangible collateral and options to monetize land or completed assets during restructuring. That tangible asset foundation can support creditor negotiations, refinancing or selective asset sales, providing a structural buffer versus firms without owned land over the medium term.

Negative Factors

Negative shareholders' equity

Persistent negative equity is a structural weakness: it reflects cumulative losses and write-downs that limit capital raising, increase insolvency risk, and constrain the firm's ability to absorb shocks. This materially reduces financial flexibility and raises refinancing and covenant breach risks over months.

Inconsistent cash generation

Repeated negative operating and free cash flow shows reported profits are not reliably converting to liquidity. That inconsistency forces dependence on external financing, risks project delays or suspensions, and constrains capital needed to complete or start projects, harming durability of any recovery.

Multi-year net losses & weak operating profit

Sustained multi-year losses and weak operating margins undermine earnings quality and make profit stability uncertain. Even with a recent rebound, historical volatility reduces confidence in sustained profitability, complicating long-term planning, partner trust, and the ability to win and fund new projects.

Housing Development & Infrastructure Ltd. Business Overview & Revenue Model

Company Description

Housing Development and Infrastructure Limited engages in the real estate construction, development, and other related activities in India. The company's residential projects include apartment complexes, towers, and townships; commercial projects comprise office spaces and multiplex cinemas; and retail projects consists of shopping malls. It also develops slum rehabilitation projects. The company was incorporated in 1996 and is based in Mumbai, India.

How the Company Makes Money

HDIL’s revenue model has historically been driven mainly by real estate development and redevelopment projects. Key money sources include: (1) Sale of real estate units: Income generated from selling completed residential apartments, commercial units, and related properties developed on owned or project land; revenues are typically recognized based on applicable accounting standards and project progress/completions. (2) Redevelopment/slum rehabilitation economics: In rehabilitation projects, the company constructs free/rehabilitation housing for eligible occupants as required by the project framework and, in return, receives development rights or additional saleable area (often referred to as free-sale component) that it can sell in the open market; monetization of this saleable component is a core earnings driver where applicable. (3) Leasing/rental and allied real-estate income: Where the company retains certain completed assets, it may generate rental/lease income and other property-related receipts; if not disclosed for a period, null. (4) Other income (project-related, asset sales, interest, etc.): The company may also report ancillary income such as sale of development rights/land parcels, interest, or other non-core receipts depending on the period and disclosures; specific breakdowns not provided here are null. Significant factors affecting earnings typically include access to land and development rights, regulatory approvals, project execution timelines, real-estate demand/pricing in core markets, and financing availability; specific partnerships materially contributing to earnings are null.

Housing Development & Infrastructure Ltd. Financial Statement Overview

Summary

Financial risk remains elevated despite a FY2025 rebound: multi-year net losses and weak operating profitability persist historically, stockholders’ equity is negative across all reported years, debt is very large, and operating/free cash flow is often negative (including FY2025), raising concerns about liquidity and turnaround sustainability.

Income Statement

Profitability remains weak across most annual periods, with large net losses in FY2021–FY2024 and deeply negative operating profitability. FY2025 shows a sharp rebound in reported revenue (annual revenue up materially vs prior year) and near break-even net income, with a healthier gross profit margin (~33%), but operating metrics are still strained (very low EBITDA margin) and the historical volatility and multi-year losses keep earnings quality and sustainability concerns elevated.

Balance Sheet

The balance sheet is highly stressed: stockholders’ equity is negative across all reported years, indicating accumulated losses and/or write-downs that leave limited financial flexibility. Total debt remains very large and essentially unchanged year-to-year, while negative equity makes leverage structurally problematic and raises refinancing and solvency risk despite a relatively stable total asset base.

Cash Flow

Cash generation is inconsistent and often negative, with operating and free cash flow negative in multiple years (FY2021, FY2022, FY2023, FY2025) and only one notably positive year (FY2024). FY2025 returns to negative operating/free cash flow, suggesting the recent improvement in net income is not translating into cash, increasing liquidity pressure and reducing confidence in the durability of the turnaround.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	157.49M	339.56M	16.15M	13.11M	21.54M	21.37M
Gross Profit	107.67M	112.03M	16.15M	26.86M	21.54M	21.37M
EBITDA	34.00M	3.64M	-89.60M	-170.73M	-111.48M	-94.55M
Net Income	15.36M	-113.00K	-103.17M	-198.04M	-122.86M	-121.84M
Balance Sheet
Total Assets	39.40B	39.48B	39.66B	39.63B	39.66B	39.71B
Cash, Cash Equivalents and Short-Term Investments	208.20M	175.22M	289.42M	71.30M	201.36M	63.13M
Total Debt	24.84B	24.84B	24.84B	24.84B	24.84B	24.81B
Total Liabilities	62.40B	62.42B	62.61B	62.48B	62.31B	62.23B
Stockholders Equity	-23.00B	-22.95B	-22.95B	-22.85B	-22.65B	-22.52B
Cash Flow
Free Cash Flow	-74.69M	-4.05M	102.11M	-20.31M	-377.00K	-40.54M
Operating Cash Flow	-74.69M	-4.05M	102.11M	-20.31M	-377.00K	-40.54M
Investing Cash Flow	0.00	0.00	0.00	2.78M	3.71M	-16.00K
Financing Cash Flow	0.00	0.00	0.00	511.00K	24.94M	39.75M

Housing Development & Infrastructure Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AURUM	50 Neutral	₹12.99B	102.20	―	―	16.23%	29.20%
HEMIPROP	46 Neutral	₹39.06B	-311.57	―	―	-17.67%	6.50%
HDIL	44 Neutral	₹1.01B	-7.38	―	―	―	―
UNITECH	41 Neutral	₹11.14B	-0.44	―	―	-10.36%	46.24%
PARSVNATH	40 Underperform	₹2.85B	-0.76	―	―	-37.98%	40.32%
OMAXE	39 Underperform	₹13.09B	-2.47	―	―	-22.30%	-8.72%