HDIL sells multiplex biz for Rs. 105 crore.

Mumbai-based developer Housing Development and Infrastructure Ltd. (HDIL) has sold its multiplex business to Carnival Films for Rs. 105 crore.

HDIL said it has sold its 100% in HDIL Entertainment, which runs 33 multiplexes under the brand name Kulraj Broadway to Carnival films.

'The sale of HDIL Entertainment to Carnival Films has been part of the group's strategy to exit its non-core business and fully focus on its core business. This will also enable HDIL to reduce its debt as planned.' said Mr Hariprakash Pandey, vice-president finance and investor relations, HDIL.

BS