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Even in the dire times, DLF proves potential

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Officer of DLF Ltd. said to www.propertykhazana.com that, “It has created an revenue collection of more than Rs. 530 in January as it went up carrying out process for development of properties. The developer was in the stage to sell about Rs. 500 Crores worth of new properties and took Rs. 55 Crores from selling ventures from last launches.” Company is likely to hike a total of about Rs. 3,000 Crores from non-core property auction in the present finance year. Now DLF is gazing to rise about Rs. 1,500 Crores through non-convertible bond by the end of the year with term of three years which will continue a yearly of about 11%. The debt hike will be utilized to leave its further costly debt and DLF’s average borrowing cost for its net debt of about Rs. 12,900 Crores in its 3rd quarter which ended in December at 10%.
Executive Director of DLF Ltd. said to www.propertykhazana.com that, “Even if it is rigid, we are able to create revenue collection of over Rs. 530 Crores which displays that realty as a segment is jumping back, particularly the housing sector. They are going sluggish on their proposed non-core property auctions as the agony times and now they are behind realty segment. With upgrade in Indian Economy, we have witnessed that there is no need of agony auction and appraisal of properties where we are boarded for auction are getting enhanced. That is the reason why we are always examining that what is the best rate at which you will relieve of a non-core asset and we are in rush to sell them.” In the meantime, DLF ratified that the plan deal with PVR to sell its cinema business, DT Cinemas for Rs. 22 Crores in cash and about 2.75 Million equity shares of PVR. For more updates on real estate market browse www.propertykhazana.com.
Source: NBTVLIVE

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