DLF plans to raise Rs. 500 crores via Non-Convertible Debentures issue
DLF also knowns as Delhi Land & Finance Limited. It is a commercial real estate developer. As of the source, the firm plans to collect nearly Rs. 500 crores through Non-Convertible Debentures issue.
However, the DLF Limited board members have already been approved the issuance of Secured Rated, Listed, Redeemable NCDs. They may offer a yield rate of 8.25% per annum with an aggregate amount of Rs. 500 crores. It offers on a private placement basis.
However, in one or more tranches to certain eligible investors permitted to invest in the NCDs under the applicable laws.
As per the financial statement, the firm has posted a net profit raised by 9% to Rs. 449 crores for Q3. However, the firm has reported increased net profit despite improvement in residential demand courtesy of the government’s supportive measures and record low-interest rates.
On the other hand, the consolidated income raised by 9% to Rs. 1,668 crores. However, DLF had posted a net profit of Rs. 413 crores in the same quarter a year ago. At the same, the company’s total revenue stood at Rs. 1,533 crores.
According to the source, the reality developer firm remains to restructure existing loans with a target of saving Rs. 300 crores annually.
Further, the gross debt of DLF at the group level remains close to Rs. 25,000 crores.