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Housing Development and Infrastructure is in talks to sell three-four land parcels near Mumbai in order to cut debt. Reports quoting an analyst presentation suggest HDIL is in advanced stage of discussions to close the first large floor space index (FSI) sale transaction in its project, HDIL Planet. With this, it plans to cut its debt to around ₹2,000 crore by March 2017. Besides, promoters are nfusing ₹150 crore through a warrant issue.
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