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DLF slows down their future projects

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Concerning the slump of realty recently state govt. of Karnataka has returned Rs 400 crore to the struggling realty major DLF. Source of www.propertykhazana.com reveals that the core member of the company is making a resolution of slow action of such risky atmosphere of the market. At present the company is engaged on 36 million square feet of construction area across some major locations of the country.
Vice chairman of the company Rajib Singh has recently revealed that “the company is making its progress for raising Rs 5500 crore by the non – strategic resources where as the sale of Rs 3500 crore assets is still on along with the disposable assets of Rs 2000 crore”. Sources reported at www.propertykhazana.com reveals that, initially DLF has shown keen interest on the future projects of the various states across the country and hence paid huge advance to them. But after the economic slow down the company also deep down their ventures and gathered a profit of around Rs 159 crore for the last quarter.
“As a result of DLF set back from the projects govt. are returning the advance back to the company which comes around Rs 400 crore” as stated by a senior govt. officials of construction department. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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