Realty major DLF’s net debt has increased by nearly Rs 700 crore in January-March quarter of the last fiscal at Rs 25,096 crore as housing demand continued to be sluggish.
DLF’s net debt is likely to rise further due to expenses on construction to complete ongoing projects even as sales are expected to be muted for the next few quarters.
According to an investors’ presentation, DLF’s net debt went up to Rs 25,096 crore as on March 31, 2017 from Rs 24,397 crore at the end of December quarter of last fiscal.
The real estate sector will continue to face significant over-supply and poor demand in the short run, the country’s largest realty firm said.
“Low sales coupled with outflow due to project completion will cause stress in the operating cashflow. New sales shall continue to be muted for next few quarters. However, execution will continue at current pace.
via Poor sales push DLF’s net debt up by Rs 700 cr in Jan-Mar to Rs 25,096 cr | Business Standard News
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