IndiaCatalog.com
India News
Search Web Directory
News Home
DLF cuts net debt by 34 per cent in Q4 to Rs 4,483 crore
Posted on 27th May 2019
New Delhi: Realty major DLF reduced its net debt by 38 per cent during the fourth quarter of last fiscal to Rs 4,483 crore with the help of funds raised from selling shares to institutional investors.

According to an investors presentation, DLF's net debt has come down "from Rs 7,224 crore in Q3 of FY19 to Rs 4,483 crore in Q4 of FY19".

In March, DLF raised Rs 3,173 crore by selling shares to institutional investors through its qualified institutional placement (QIP) offer. The company had offered 17.3 crore shares to investors at an issue price of Rs 183.40 per share.

DLF's net net debt would further come down during the current quarter with likely infusion of Rs 2,250 crore into the company by promoters. In December 2017, the promoters had infused Rs 9,000 crore into the company and promised to pump in Rs 2,250 crore more.

The fund infusion was after they sold their entire stake in DLF's rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 11,900 crore. This big-ticket deal included the sale of a 33.34 per cent stake in the DCCDL to Singapore's sovereign wealth fund GIC for Rs 8,900 crore and buyback of remaining shares worth Rs 3,000 crore by DCCDL.

Against this infusion, DLF had issued compulsorily convertible debentures and warrants to promoters entities. According to the presentation, DLF is targeting a 10 per cent increase in sales bookings in the current 2019-20 fiscal year at around Rs 2,700 crore, on hopes of increase in housing demand.

Sales bookings of the company more than doubled to Rs 2,435 crore in 2018-19 from Rs 1,000 crore in the previous year. The company is "targeting sales of Rs 2,700 crore in 2019-20 (i.e 10 per cent increase over 2018-19)," DLF said in an analyst presentation. DLF has an unsold inventory of around Rs 11,650 crore, it added.

"The company continued to see good sales in the residential segment. We have started monetising our ready-to-occupy inventory across the country in the premium and luxury segments," DLF said.

The company is now gearing towards the next cycle of development and is planning to build 17 million sq ft of residential and commercial space in the near future.

Earlier this week, DLF reported a 76 per cent jump in consolidated net profit to Rs 436.56 crore for March quarter from Rs 247.73 crore in the year-ago period.

Total income rose to Rs 2,660.95 crore as compared with Rs 1,845.92 crore in the year-ago period. For entire 2018-19, net profit declined to Rs 1,319.22 crore from Rs 4,463.86 crore in the previous fiscal. The drop in profit was because of exceptional gain from sales of rental business in 2017-18.

However, total income rose to Rs 9,029.41 crore in the last fiscal from Rs 7,663.71 crore in 2017-18.

Related Companies: DLF Ltd   

Other Latest News
'Be more careful in future': SC closes contempt plea against Rahul Gandhi over 'chowkidar chor hai' remark
Posted on 14th November 2019
In a relief for Rahul Gandhi, the Supreme Court on Thursday closed a contempt plea filed by BJP MP Meenakshi Lekhi against the former Congress chief for wrongly attributing to the court his "chowkidar chor hai' slogan against Prime Minister Narendra Modi in the Rafale case.

The Supreme Court said, "Mr Rahul Gandhi needs to be more careful in future," for attributing to the court his remarks.


Schools shut today, tomorrow as air quality deteriorates in Delhi
Posted on 14th November 2019
The schools in the national capital will be closed on Thursday and Friday, the Delhi government announced on Wednesday.

The city’s air quality reached the higher end of the ‘severe’ category on Wednesday, even as the Centre’s Task Force, meant to advise on implementing the Graded Response Action Plan, recommended that schools be shut and industrial activities be curbed till November 15.


VST Industries hits new peak after Radhakishan Damani buys shares
Posted on 14th November 2019
Shares of VST Industries jumped up to 7.5 per cent to hit a new high of Rs 4,600 apiece on the BSE on Thursday, a day after Radhakishan Damani bought 2,70,000 shares at Rs 4,259.99 apiece on the BSE, according to bulk deal data. The data also showed HDFC Mutual Fund sold 273,706 shares at Rs 4,260 apiece.

At 10:53 am, the stock was trading at Rs 4,573.70, up nearly 7 per cent. In comparison, the S&P BSE Sensex was trading flat at 40,182 levels, up just 0.16 per cent.


Women's entry at Sabarimala: Supreme Court refers matter to larger bench
Posted on 14th November 2019
A five-judge bench of the Supreme Court on Thursday referred to a larger bench pleas seeking a review of its 2018 ruling that allowed menstruating women from entering the Sabarimala temple in Kerala.

Chief Justice Ranjan Gogoi, Justice A M Khanwilkar and Indu Malhotra said a larger bench will hear if the court can decide matter of religious practice. Justices R F Nariman and DY Chandrachud gave dissenting opinion.


'No inquiry needed': SC dismisses review petitions against its previous order on Rafale deal
Posted on 14th November 2019
The Supreme Court on Thursday dismissed Rafale review petitions against its December 14, 2018 judgement, after it was found to be without any merit.

The Supreme Court was due to deliver the verdict on the review petitions against its earlier judgment dismissing any corruption in the deal to purchase 36 Rafale fighter jets from a French company.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for DLF cuts net debt by 34 per cent in Q4 to Rs 4,483 crore
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for DLF cuts net debt by 34 per cent in Q4 to Rs 4,483 crore

Most Read News

Ayodhya verdict shouldn't be seen as victory for any side: Left parties

Govt gives sugar mills time till Dec 31 to export last year's balance quota

Reliance Industries puts off gas bid for the second time to November 15

Jindal Steel & Power hits over 4-month high, zooms 60% in one month

Moody's cuts India outlook to negative, predicts 'prolonged slower growth'

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement