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DLF sets another record in realty sector with least profits

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As per to the source saying at the www.propertykhazana.com, India’s chief realty company DLF profits observed a downturn for the financial year 2009 and the quarterly profit stood at Rs. 159 crores, which is very less than the predicted. In fact, the above profit seems to be the worst which is almost down by over 90%. Speaking on the same, a senior DLF executive says that, the price revision on the ongoing projects is the major reason for the drop in profits and the revealed information says that the reduction of prices on the existing projects have impacted up to Rs. 690 crores. It is also added by the source at the www.propertykhazana.com that the ventures undertaken in Chennai, Bangalore and Gurgaon are now available at reduced rates.
Meantime, in a verbal communication with the www.propertykhazana.com the MD of DLF Ltd said that, the company is on plan to exit from the unplanned businesses like wind power and there are talks on with the efficient companies and buyers. He also added that, the company is also considering calling off township ventures proposed in Bidadi and Dankuni. For more and latest realty updates follow us @ www.propertykhazana.com.
Source: NBTVLIVE

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