DLF is still on a shaky foundation as cash flows remain weak
Posted on 5th June 2018 |
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A few months ago, DLF Ltd’s promoters infused funds to trim its ballooning debt through a stake sale in the rental subsidiary. That pulled it out of the debt trap. But, weak cash flow prospects in the near-to-medium term raise fresh concerns on whether the company can achieve its guided “net zero-debt” milestone in fiscal year 2019 (FY19). |
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Riding on 66% net growth, DLF sees revival in luxury homes
Posted on 22nd May 2018 |
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DLF, the country’s largest real estate developer, recorded a consolidated net profit of Rs 2.48 billion in the fourth quarter of last fiscal year while profit stood at Rs 1.49 billion during the same period a year back. This year’s profit is a whopping rise of 66 per cent from the figure in the previous year. Total income, however, fell to Rs 18.45 billion during the January-March quarter of last fiscal year from Rs 25.12 billion in the corresponding period of the previous year. |
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DLF-GIC plans high-rise residential project in Delhi
Posted on 16th February 2018 |
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MUMBAI: In addition to their commercial leasing business engagement, Singapore sovereign wealth fund GIC and realty developer DLF are working on a high-rise residential project with saleable area of 7 million sq ft near central Delhi. The project will be located in Moti Nagar area where DLF had bought two separate land parcels from DCM Shriram Consolidated and Lohia Group in 2007. The developer had paid Rs 1,582 crore for the 38-acre property known as Swatantra Bharat Mills and DCM Silk Mills. |
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DLF eyes debt-free status in FY19 after stellar performance in Q3
Posted on 15th February 2018 |
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The biggest real estate developer in the country, DLF, is planning to get rid of its entire debt in 2018-19 (FY19), after a stellar performance in the October-December (Q3) quarter of this financial year (FY18). In Q3FY18, DLF’s profit jumped nearly 42 times to Rs 40.91 billion, after it sold a stake in its rental arm to GIC. In the same period of FY17, its profit was Rs 980 million. |
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DLF's Q3 net sales bookings soar 78% to Rs 480 crore
Posted on 14th February 2018 |
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NEW DELHI: Realty major DLF's net sales bookings rose by 78 per cent to Rs 480 crore in the third quarter of this fiscal mainly on improved demand for ready-to-move-in homes. The company's net sales bookings stood at Rs 270 crore in the year-ago period. |
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DLF plans to launch QIP of shares by April; raise Rs 45-50 billion
Posted on 29th January 2018 |
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DLF, the country’s largest developer by market value, is looking to launch its qualified institutional placement (QIP) of shares by April this year, a source said. DLF has already received approval from shareholders to sell 173-million equity shares, which will be determined by the formula laid down by the market regulator Securities and Exchange Board of India. |
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DLF aims to make development arm zero net-debt company
Posted on 24th January 2018 |
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After the conclusion of the promoter's stake sale in its rental arm to Singapore sovereign wealth fund GIC, realty major DLF is looking to make its development arm a zero net-debt company by March 2019, repaying the entire liability of 13,000 crore. The company has already repaid debt worth 3,000 crore on December 29 from about 9,000 crore received from promoters following their 33.34% stake sale in rental arm DLF Cyber City Developers Ltd (DCCDL). |
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Supreme Court upholds order against demolition of DLF’s housing project in Kochi
Posted on 10th January 2018 |
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New Delhi: The Supreme Court on Wednesday upheld an order of the Kerala high court allowing real estate company DLF to regularize an illegal structure built along the banks of eco-sensitive Chilavannur backwaters, near Kochi. DLF’s project costing over Rs300 crore comprises 180-odd luxury flats. |
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DLF appoints Saurabh Chawla as group CFO
Posted on 30th December 2017 |
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Real estate major DLF Ltd announced the appointment of Saurabh Chawla as the Key Managerial Personnel (KMP) and Group Chief Financial Officer (CFO). The appointment follows the elevation of former Group CFO Ashok Kumar Tyagi as the whole-time director of the company. |
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DLF appoints Saurabh Chawla as group chief financial officer
Posted on 29th December 2017 |
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NEW DELHI: Realty major DLF today appointed Saurabh Chawla as group chief financial officer (CFO). Chawla, age 53 years, joined DLF in April 2006. "...upon elevation of the group CFO Ashok Kumar Tyagi as whole-time director of the company, the board of directors... has appointed Saurabh Chawla as Group CFO of the company," DLF said in a regulatory filing. |
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