Housing Development and Infrastructure : Financial Result Updates

3rd June, 2022

National Stock Exchange of India Limited,	BSE Limited
"Exchange Plaza", C-1, Block G,	25th Floor, New Trading Ring,
Bandra Kurla Complex,	Rotunda Building, PJ Towers,
Bandra (East),	Dalal Street, Fort,
Mumbai-400051	Mumbai-400001
Script Code: 532873	Security Symbol: HDIL

Subject: Intimation under Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 regarding Outcome of the Meeting and submission of Standalone Unaudited Financial Results for the quarter and nine months ended on 31st December, 2021 of FY 2021-22.

Dear Sir,

This is in continuation to our letter dated 27th May, 2022 regarding the intimation of date of meeting of Directors for consideration and confirmation of the Standalone Unaudited Financial Results of the Company for the quarter and nine months ended 31st December,2021.

As your good self is already aware that Housing Development and Infrastructure Limited ('the Company') is undergoing Corporate Insolvency Resolution Process ('CIRP') vide Hon'ble National Company Law Tribunal, Mumbai Bench order dated 20th August, 2019 ('Order'), in terms of the provisions of Insolvency and Bankruptcy Code, 2016 ('IBC') and the regulations framed thereunder. Pursuant to the said Order and in accordance with the provisions of IBC, the powers of the Board of Directors and responsibility for managing the affairs of the Company is vested in Mr. Abhay Narayan Manudhane, in the capacity of the Resolution Professional ('RP').

This is to inform you that the Resolution Professional has considered and taken on record the Financial Results of the Company for the quarter and nine months ended 31st December, 2021 of FY 2021-22. In accordance with Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), the Standalone Unaudited Financial Results of the Company for the quarter and nine months ended on 31st December, 2021of FY 2021-22along with the Limited Review Report thereon is enclosed herewith.

These financial statements have been signed by the RP while exercising the powers of the Board of Directors of the Corporate Debtor, which has been conferred upon him in terms of the provisions of Section 17 of the IBC. The RP has signed these financial statements in good faith, solely for the purpose of compliance and discharging his duty under the Code, and subject to the following disclaimers:

1. The RP has furnished and signed the report in good faith and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP in terms of Section 233 of the Code. The financial results enclosed herewith is accepted by the RP in his fiduciary capacity without accepting any personal liability and is only in compliance with the statutory requirement under Regulation 15(2A) of SEBI LODR Regulation and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP. The RP is not liable for any error or misstatement of facts and figures, if any, in the accounts and/ or any disclosure or non-disclosure in the accounts.
2. No statement, fact, information (whether current or historical) or opinion contained herein should be construed as a representation or warranty, express or implied, of the RP including, his authorized representatives and advisors;

Registered Office: 9-01, HDIL Towers, AnantKanekarMarg, Bandra (East), Mumbai-400051

Tel: [phone]; Website: www.hdil.in; CINNo. L70100MH1996PLC101379

(iii)The RP, in review of the financial results and while signing this statement of financial results, has relied upon the assistance provided by the available Officers of the Corporate Debtor. The statement of financial results of the Corporate Debtor has been taken on record by the RP solely on the basis of and relying on the statement of the management/available officers of the Corporate Debtor. For all such information and data, the RP has assumed that such information and data are in conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial statements. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial statements.

1. In terms of the provisions of the Code, the RP is required to undertake a review of certain transactions. Such review has been initiated and the RP may be required to accordingly act on the results of such review in terms of the provisions of the Code.

Regulation 33(3)(b) of the SEBI LODR Regulations, 2015 provides that in case the listed entity has Subsidiaries, in addition to the requirement at clause (a) of sub-regulation (3), the listed entity shall also submit quarterly/year-to-date consolidated financial results. There are 5 (Five) Subsidiaries of the Corporate Debtor. The RP is not in a position to provide the consolidated financial results, as the Subsidiaries of the Corporate Debtor are separate legal entities and the RP is facing huge difficulty in obtaining relevant data from the said Subsidiaries. In view of the above, the RP is constrained to submit the standalone financial results.

The report of Resolution Professional is enclosed herewith as Annexure 1.

The meeting commenced at 3 p.m. and concluded at 5.25 p.m.

Kindly consider the same for your records.

Thanking you,

For Housing Development and Infrastructure Limited

Abhay Narayan Manudhane

Resolution Professional

Encl: As above

(M/s. Housing Development and Infrastructure Limited is under Corporate Insolvency Resolution Process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. Its affairs, business and assets are being managed by the Resolution Professional, Mr. Abhay N Manudhane appointed by Hon'ble National Company Law Tribunal, Mumbai Bench, Mumbai, vide order dated 20thAugust, 2019)

Registered Office: 9-01, HDIL Towers, AnantKanekarMarg, Bandra (East), Mumbai-400051

Tel: [phone]; Website: www.hdil.in; CINNo. L70100MH1996PLC101379