HB Estate Developers Limited
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BSE Code:
532334
NSE Code:
HBESD
Business Profile
Business Profile
HB Estate Developers (HBESD) is primarily engaged in the development of commercial and residential properties. It was incorporated on Sep. 20, 1994 and got its present name on Jan. 23, 1996.
The company has undertaken projects like HB Grandeur and HB Twin Towers. It earns its income from operations sales and rentals, sale of long-term investments in securities and dividend income. In FY07, the company formed an association of person (AOP) with Parsvanath Developers for undertaking real estate development projects. As its maiden venture, it is executing a project for construction of a multiplex/shopping mall/hotel involving approximately 236,000 sq. ft. of built-up area.
In July 2007, the company entered into a long-term management agreement with Indian Hotels Company (IHCL) for operating a five star Hotel in the Taj Portfolio of Hotels being set up by the company in Gurgaon, Haryana. IHCL would provide technical assistance during the setup and construction stage of the project, which is expected to be completed in three years.
The registered office of the company is located at Plot 31 Sector 32, Echelon Institutional Area, Gurgaon-122001, Haryana.
Financials
HB Estate Developers registered a profit of Rs 41.6 million for the quarter ended September 2007.
It recorded a net sales of Rs 6.68 million for the quarter. Total income was Rs 53.53 million for the quarter ended September 2007.
The earnings per share (EPS) of the company stood at Rs 3.45 for the quarter ended September 2007.
Recent Developments
18-JUL-07
The company has entered into a long-term management agreement with Indian Hotels Company (IHCL) on July 18, 2007 for operating a five star hotel in Taj Portfolio of Hotels being set up by the company at Plot No. 1, Sector 44, Gurgaon, Haryana. The aforesaid hotel project of the company is under implementation and is expected to be completed in three years. During the setting up/construction stage, Indian Hotels Company shall provide its technical assistance to the company.
Future Plans
The company is currently executing its maiden venture of developing a multiplex, mall and hotel involving approximately 236,000 sq. ft. built-up area. The design work for this project is complete for this project.
It has formed an association of person (AOP) with Parsvanath Developers for undertaking real estate development projects.