India's HDIL comfortable with debt repayments-official

MUMBAI Thu Jan 24, 2013 7:11am GMT

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MUMBAI Jan 24 (Reuters) - A senior executive at Indian real estate developer Housing Development & Infrastructure Ltd said on Thursday the company was "very comfortable" with its debt repayments, after its shares fell as much as 22 percent.

"There have been lots of rumours in the market about bankruptcy and defaults, which we totally deny," said Hariprakash Pandey, vice-president of finance at HDIL, in a conference call.

"We are very comfortable with the debt repayment schedule and we are as per schedule," he added.

HDIL shares were down 14.6 percent as of 0651 GMT, after dropping 20.4 percent in the previous two sessions. (Reporting by Aditi Shah and Swati Pandey; Editing by Rafael Nam and Ken Wills)