DLF has reduced its net debt by 16 per cent during the April-June period to Rs 2,259 crore from the previous quarter on the back of strong housing sales. Its net debt stood at Rs 2,680 crore at the end of the last fiscal.
The company is committed to further debt reduction in the medium term. As per the company, the completed inventory and receivables from customers against sold units would be sufficient to discharge all current liabilities.
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.
