on 276acres (1.12km
) of Mumbai Airport land.Although historically HDIL has focused on realestate development in the Mumbai Metropolitan Region, as part of their growth strategy they areconsidering projects in other locations, including Kochiand Hyderabad. They also areconsidering expanding into hotel projects, special economic zone(SEZ) developments and“mega-structure” complexes, which are large-scale mixed-use retail, commercial and residentialdevelopments. Although historically HDIL has focused on real estate development in theMumbai Metropolitan Region, as part of their growth strategy they are considering projects inother locations, including Kochiand Hyderabad. They also are considering expanding into hotel projects, special economic zone(SEZ) developments and “mega-structure” complexes, which arelarge-scale mixed-use retail, commercial and residential developments.HDIL launched an IPO in July 2007 and is currently listed on the Bombay Stock Exchange(BSE) and the National Stock Exchange (NSE).
HDIL part of the Wadhawan Group, which was founded by the late Mr.Dewan KuldipSingh Wadhawan in 1973.The Wadhawan Group was founded for thepurpose of landaggregation, land management, land development andconstruction of residential,commercial andretail units, townships and infrastructure. Initially,the Wadhawan Groupwas also involved in themarketing of residential, commercial andindustrial plots. In 1973 the first residential buildingnamed Kapil Kunj at Vasai wascompleted by the Wadhawan Group. In 1978, all the projects of the Wadhawan Group came under thebrand name of Dheeraj.As of December 31, 2006, theWadhawan Group has developed (includingour developments)approximately 72.8 millionsquare feet of saleable area and,additionally, has constructedapproximately 5.5 million squarefeet of rehabilitation area under slum rehabilitation schemes.Our Company was incorporated onJuly 25, 1996 as Housing Developmentand Improvement India Private Limited, with theobjective of developing large-scalereal estate projects including residential, commercial andretail projects such as shopping malls,multiplexes and integrated townships and partnering indevelopment of public infrastructure.Since our incorporation in 1996, we have developed and constructed 2 projects coveringapproximately 11.0 million square feet of saleable area, including approximately 5.7 millionsquare feet of land sold to other builders after Land Development, all in the MumbaiMetropolitan Region.We also have constructed an additional 2.0 million square feetofrehabilitation area under slum rehabilitation schemes.
Since its inception in 1996 HDIL has completed 24 projects covering 11.3mn sq ft of saleablearea. The company
s projects have an enhanced buyer perception, especially since it is a part of the Wadhawan group which has developed a strong reputation for quality construction in theMMR over three decades. The company has created strong brand equity among the middle tohigher middle class group in the residential segment, while establishing a firm foothold incommercial and retail segments as well. HDIL
s expertise includes strong relationships withsuppliers from whom it sources material and with contractors that it engages for carrying out