It is after quite some time that we are hearing the launch of any new project from a realty company. Thus the market is enthused with HDIL.

The company had announced yesterday after market hours that it has launched a new project 'The Nest' at Mulund, Mumbai, under the affordable housing brand ' Budget Homes.’ This will have 263 units open for Sale in phase 1 of the project.

The company surely needs to buckle up with its projects as financially it has been having a roller coaster ride. It had ended Q3Fy17 with a 84% (YoY) drop in consolidated net profit at Rs.16 crore and net sales too had declined 65% to Rs.109 crore.

The stock price is up currently 5.5% at Rs.95 levels and intra day, it had gone up to Rs.96.35.