Hari Prakash Pandey, VP Finance & IR addressed the call.

Highlights of the conference call:

Total Income on a standalone basis stood at Rs 239.48 crore in March 2014 quarter.

Income on a consolidated basis stood at Rs 259.27 crore.

Standalone PAT for the quarter is at Rs 122.08 crore as compared to Rs 20.98 crore

Consolidated PAT for the quarter at Rs 79.38 crore as compared to Rs 5.53 crore.

HDIL has repaid debt of Rs 408.41 crores during the quarter

Consolidated Net Debt stands at 3284.76 crore.

Standalone Debt of the company has reduced by 22% YOY and stands at Rs.2441 crores

Consolidated Debt stands at Rs 3511 crores against Rs 4004 crores y-o-y.

Customer Advances & Collections during the quarter was Rs 221 crore.

HDIL sold 45 % stake in associates company HDIL leisure.

The management feels that the company has reported a good set of numbers in the last quarter with a significant reduction in debt position. The company continues to focus on reducing debt and delivering possession of its existing projects in the upcoming quarters as well. As it follows a project completion method it expects the following quarters to be equally promising and positive.

The management feels that the steady pace of growth has been very encouraging and has helped it to consolidate. With faster clearances of pending projects, rapid infrastructural development and a spur of other economic activities, it expects the economy to further accelerate its growth and end the woes that the sector is currently undergoing.

Consolidated Annual Income of HDIL for FY2014 is Rs. 953.64 crore.

Annual PAT in FY 2014 was at Rs.177.56 crore.

Consolidated Net Cash flow from operations has been positive, and stands at Rs 488.95 crore during the quarter.

The company has handed over possession of 1.5 million sq ft during the year; approximately 1000 apartments and plans to handover possession of another 2 million sq.ft during the current year.

During the quarter new FSI sales concluded was amounting to 200 crore. This income will be recognized in FY 2015 on Project completion basis.

Major projects planned during the year are Planet HDIL (500acres township in upper Mumbai also known as the Vasai-Virar region) and Berkeley Square (1mmillion sq.ft project at Ghatkopar).

The company currently has 23 Ongoing Projects.

It has completed 15 Million Sq. Ft. construction and has 31.15 Million Sq. Ft. under construction.

For Residential segment it has Ongoing Projects which has 31,157,810 saleable area. It has planned projects of 131,749,589 sq feet under residential section.

Residential segment account for 72.50% of its ongoing projects and 13.04% is from commercial and retail segment. SRA accounts for the rest 14.46%.

Planet HDIL in vasai virar area has all approvals in place. Vasai–Viraris seeing a surge in all spheres of Real Estate be it Residential, Commercial, Retail, Hospitality, Entertainment or Amusement. This project will have 67,000 Units of Studio, 1BHK, 2BHK flats ranging from 700-1000 Sq. Ft. Project is adjoining to proposed railway station HDIL City on Western line. This project will have India's First Central park sizing 30 Acres consisting of artificial lake, 8-Holes Golf Course, Latex bound Jogging track, performance boulevard and Gazebos.

Another project the company is excited about is HDIL Gold City located in adjoining NH-8 and situated in Vasai. Project is divided into 2 phases. Phase I, will consist of 18 Hole Golf Course, Villas, Marina, Resorts and Mall. Phase II, will be a integrated township. This project is under Master planning phase and all required proposals are being obtained. This project will also have 300 Villas of Area 5,000-8,000 Sq. Ft. It will boast of International standard 18 Holes Golf Course, 50,000 Member Contemporary & Stylish Golf Club and Exclusive Club House, consisting of gym, swimming pools and gazebos

The company plans to further reduce debt by 600-800 crore in FY 2015 through internal accruals and stake sale.

The company plans to give possession of 3-4 projects in FY 2015 including Metropolis and Galaxy.

The company has seen heightened activity especially in the last one month especially after it was somewhat known that stable government will come at the center. Situation in outskirts of Mumbai were already good and now in the past one month inquiries for Mumbai has also started picking up and the company hopes to capitalize on the same.

FSI sale business is picking up as lots of small developers and other builders are showing interest in developing projects in Mumbai.

In FY 2015 the company hopes to see positive operational cash flows out of which at least 60-70% will be utilized for debt reduction.