MoneyWorks4Me

DLF to trim net debt by Rs 1,870 crore in Q3FY14: Report

28 Feb 2013 Evaluate

DLF is reportedly planning to reduce its net debt by Rs 1,870 crore in the October-December 2013 quarter, thereby bringing it down to Rs 21,350 crore in the quarter from Rs 23,220 crore in the previous quarter.

The reduction in debt in Q3 can primarily be attributed to the Mumbai NTC land deal struck in August 2012 with the Lodhas for Rs 2,700 crore. The company is depending on selling its stake in the wind business completely, that may gain it another Rs 500-600 crore over the coming months.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
View more..