HDIL sells development rights on Kurla land parcel to DK Realty for Rs 649.51 crore

Realty player Housing Development and Infrastructure (HDIL) has sold development rights on its land parcel at Kurla to DK Realty (India) for Rs 649.51 crore.

"HDIL has registered a development agreement with DK Realty (India) to sell the development rights in respect of the piece and parcel of land situated at Kurla for a consideration of Rs 649.51 crore," the company said in a filing to the BSE.

HDIL has several projects in the Mumbai metropolitan region and has developed over 100 million sqft area of commercial, residential and retail space.

The company has a land reserve of 243.99 million sqft as on March 31 and has around 40,00,000 sqft of TDR.

Shares of the company closed 6.19% up at Rs 70.35 apiece on BSE.