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

• Market Cap: ₹1.13B
• Dividend Yield: N/A
• Average Volume (3M): 47.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.37
• 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)

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

Diversified revenue model

HDIL’s core monetization channels—unit sales, redevelopment free-sale components, and potential rental income—provide multiple durable cash avenues. Redevelopment economics in particular allow recurring saleable inventory beyond pure land flips, cushioning cycle risk if execution and approvals persist.

Specialized redevelopment expertise

A long track record in slum rehabilitation/township projects in Mumbai gives HDIL structural access to development rights and regulatory frameworks that many competitors lack. This niche capability can secure a steady pipeline of projects and free-sale inventory when municipal programs continue, supporting mid-term revenue visibility.

Operational improvement in FY2025

The FY2025 rebound and ~33% gross margin indicate improved project execution and pricing on completed inventory, suggesting operational leverage potential. If sustained by repeatable project wins and margin discipline, this can form a foundation for a durable earnings recovery over the next several quarters.

Negative Factors

Negative equity across years

Persistently negative equity signals deep historical erosion of shareholder capital and constrains balance-sheet leverage capacity. This structural weakness raises refinancing and solvency risk, limits ability to fund new projects organically, and can keep cost of capital elevated for months to years.

Inconsistent and negative cash generation

Repeated negative operating/free cash flow shows the company struggles to convert accounting profits into cash. That cyclically weak cash generation forces dependence on external financing or asset sales, raising execution risk on projects and making sustained growth or deleveraging difficult over a 2–6 month horizon.

Multi-year weak profitability

A history of net losses and very low operating margins undermines earnings quality. Even with recent revenue improvement, legacy profitability shortfalls mean any recovery must overcome structural cost or pricing issues; absent clear, sustained margin expansion, earnings remain fragile over the medium term.

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

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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	356.32M	339.56M	16.15M	13.11M	21.54M	21.37M
Gross Profit	128.79M	112.03M	16.15M	26.86M	21.54M	21.37M
EBITDA	25.61M	3.64M	-89.60M	-170.73M	-111.48M	-94.55M
Net Income	-113.00K	-113.00K	-103.17M	-198.04M	-122.86M	-121.84M
Balance Sheet
Total Assets	39.48B	39.48B	39.66B	39.63B	39.66B	39.71B
Cash, Cash Equivalents and Short-Term Investments	175.22M	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	62.42B	62.42B	62.61B	62.48B	62.31B	62.23B
Stockholders Equity	-22.95B	-22.95B	-22.95B	-22.85B	-22.65B	-22.52B
Cash Flow
Free Cash Flow	0.00	-4.05M	102.11M	-20.31M	-377.00K	-40.54M
Operating Cash Flow	0.00	-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	₹14.00B	-57.96	―	―	16.23%	29.20%
HEMIPROP	46 Neutral	₹38.35B	-363.45	―	―	-17.67%	6.50%
HDIL	44 Neutral	₹1.13B	―	―	―	―	―
UNITECH	40 Underperform	₹12.26B	-0.60	―	―	-10.36%	46.24%
PARSVNATH	39 Underperform	₹3.91B	-1.19	―	―	-37.98%	40.32%
OMAXE	39 Underperform	₹14.46B	-2.22	―	―	-22.30%	-8.72%