Despite the slow down in the economy the leading realty - DLF is mobilizing all its financial units to raise funds from various national and state financial groups for their forthcoming ventures. According to a recent source of www.propertykhazana.com, DLF has already made a collection of Rs 20 billion from various sources of which Rs 7 million has been gathered from Punjab National Bank and around Rs 3 billion has been taken from the state bank of India.
Apart from this from Life insurance corp. the company has succeeded to sign in for approximately Rs 7.5 billion and Rs 2.5 billion from Bank of India. Source of www.propertykhazana.com also reveals that, these loans have been secured with interest rate of ranging from 12 per cent to 13 per cent. But till now no clear cut indication has been declared from the core of DLF group. On a short note with the spokesman of the company – Sanjay Roy states that the “company is quite comfortable with the present situation and they will be completing all the commitments in time”.
As per the sources of www.propertykhazana.com, the Delhi based realty giant is making fast movements in replacing the short term loans with the long term debts due to the deep fall of the economy of the country. Rajiv Singh – Vice chairman of the company states that “during the last quarter of December the company was in deep debt with Rs 130 billion where around Rs 40 billion fall under the short terms”.
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