Leading real estate Services Company Housing Development and Infrastructure Ltd has informed that it is planning to come up with more residential projects in the country in coming financial years.

The company has said that it has decided to launch 4-6 million square feet of residential projects in the current financial year. Earlier it has announced its quarterly financial results for its April-June quarter of the ongoing the fiscal year 2010-11.

Housing Development and Infrastructure Ltd has posted a net profit of Rs 2.34 billion for the quarter that ended in 30th June, 2010 which is almost double of the net profit figure of the similar quarter in the last fiscal. It has posted a net profit of 1.07 billion rupees for the corresponding quarter in the previous fiscal year.

The company has registered a significant rise in net profit due to the gains from Transfer of Development Rights (TDR).

TDR is the additional development right provided to the real estate firms to redevelop slum areas. HIDL had also taken some of the rehabilitation projects and has some planning for such projects as well.