DLF’s Q2 net debt jumps

DLF’s Q2 net debt jumps
13/12/2016 , by , in News/Views

Realty major DLF‘s net debt has increased by 1,021 crore in the second quarter of this fiscal to Rs 23,140 crore as housing sales remained sluggish.

According to an analyst presentation, the net debt of DLF — the country’s largest real estate firm — increased to Rs 23,140 crore at the end of July-September quarter of 2016-17, from Rs 22,120 crore in the previous quarter.

Last week, DLF’s Senior Executive Director (finance) Saurabh Chawla told analysts in a conference call that the company has received offers from two big investors that are interested in acquiring promoters’ 40 per cent stake in DCCDL in a deal estimated at Rs 12,000-14,000 crore.

“The due diligence exercise has been completed. We have received two offers from marque investors. The bankers and legal advisors are evaluating and negotiating the offers as well as terms and conditions,” Chawla said, without divulging the name of the two and the valuation offered by them.

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