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DLF Turns Down in Net Profits

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DLF which is the official sponsor of IPL is very famous. The revenue has increased and the realty major has seen an unexpected fall of approx 31% in the profit amounting to INR 470 Crores which ended on December 31, 2009. According to the records at www.propertykhazana.com , it is approx INR 200 Crores less than the previous year. It is attributed to an increase in the interest in the current financial year compared to previous year.
The allocation of taxes has increased from approx INR 170 Crores in the month of December 2009 from a meager INR 110 Crores. According to the sources saying at www.propertykhazana.com, the revenues of the company skyrocketed to 44% approx to INR 2,160 Crores approx during a year ago. In the coming years, DLF wants to project itself as a ‘Zero Debt Company’ in short and long terms. At present the debt is INR 13,000 Crores approx.
Furthermore, the firm has obtained a huge capital of INR 180 Crores approx by selling unwanted properties in the last three months there by increasing the revenue to INR 1,300 Crores approx in the current financial year. It is expected to garner another INR 1,260 Crores approx by refunds and sale of properties. The earning will come to approx INR 2,600 Crores. On a short note with www.propertykhazana.com, DLF Vice Chairman said,” Thanks to the economic boom, there will be an increasing demand for luxury and posh housing projects. Furthermore, the demand for cheaper home is always here to stay. He also added that we are very alert and on the way to achieve the goal in the current financial year. DLF is concentrating to improve the main business and block other business ventures. The firm has done major reformation to bring realty segment under its radar like the housing, business, retail-segment, rentals. The office in Delhi has played a vital role to come out of mutual funds business and sell its shares to the US based Prudential Financial. Furthermore, during last year it has sold the security services firm Terra Force to the world renowned security services provider known as G4S Plc. The DLF shares have closed at INR 320 which is coming down to 8% at the Bombay Stock Exchange (BSE) on Wednesday. For more information, please visit the website www.propertykhazana.com.
Source: NBTVLIVE

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