DLF’s net debt rose by Rs 900 crore during the September quarter to Rs 26,800 crore and the borrowing could rise further to meet construction cost of its ongoing projects amid a demand slowdown in the property market. The net debt increased to Rs 26,799 crore as on September 30, 2017, from Rs 25,899 crore at the end of the previous quarter.
The company had a negative cash flow during the second quarter of this fiscal as it stopped sales bookings during May-October, but it continued construction of their projects.
DLF is one of India's biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.
