HDIL

Founded 1996 · 30 years in real estate · CIN: L70200MH1996PLC141420

Housing Development and Infrastructure Limited (HDIL) is a Mumbai-based real estate company incorporated in 1996 and listed on Indian stock exchanges (BSE/NSE). The company built its reputation as one of India's largest slum rehabilitation developers, executing redevelopment work under the Slum Rehabilitation Authority (SRA) framework and reporting over 4.31 million square feet of rehabilitation housing delivered. Major projects include Premier Exotica and Whispering Towers in Mumbai, the HDIL Towers building in Bandra East, and Phase 1 of the Mumbai Airport Slum Rehabilitation Project intended to rehouse around 20,000 slum dwellers from the Vile Parle, Santacruz and Sahar areas. The company is headquartered at HDIL Towers, 9th Floor, Anant Kanekar Marg, Station Road, Bandra East, Mumbai 400051. Its suspended promoter-directors are Rakesh Kumar Wadhawan and his son Sarang Wadhawan. HDIL was admitted to corporate insolvency under the Insolvency and Bankruptcy Code in 2019. The Wadhawan family was subsequently arrested in connection with the Punjab and Maharashtra Co-operative (PMC) Bank fraud case, which the Enforcement Directorate has investigated under the Prevention of Money Laundering Act, and the Central Bureau of Investigation also booked them in October 2020 in a separate Rs 200 crore alleged loan fraud matter involving Yes Bank. Lender filings also recorded large defaults to other banks including a Rs 279 crore default reported by Indian Bank. The Mumbai bench of the NCLT later approved resolution plans in 2022, with Adani Properties cited as the sole compliant bidder for two HDIL asset clusters under a plan valued at over Rs 2,000 crore.