DLF Launches New Project in Gurgaon
Introduction
DLF Limited, the country's largest real estate firm by market capitalisation, on Tuesday launched its next project in Gurgaon. The end-user demand for homes is still quite buoyant and we will continue to focus on this segment, said a DLF spokesperson.
DLF boosts to give possession of 12 residential projects in Gurgaon by the end of 2019.
DLF is boosting the real estate market in Gurgaon by giving possession of 12 residential projects by the end of 2019. These projects include; DLF 3, 4 and 5 Park Extension, DLF 1 & 2 Park Extension and DLF 6-8 & 10-12 Park Extension.
The company has also announced that it will be launching two new projects in Sector 50B which will provide an opportunity for developers to build high-end luxury apartments at affordable prices. The first project will be built on a land measuring 1 acre where as second one consists of two plots with an area of 2 acres each.
The end-user demand for homes is still quite buoyant and we will continue to focus on this segment, said a DLF spokesperson.
DLF is one of the largest developers in India and has been going through a massive rejig in its operations and strategies as the new management is working towards turning around its fortunes after years of accumulation of debt and nearly negligible capital infusion in the main real estate business.
The company was listed on BSE in 2003, making it one of India's first listed property companies. In 2006, DLF acquired 100% stake from Anu Agarwal’s family trust for Rs 1,600 crore ($220 million). The deal included DLF 4bhk Apartments In Sector 63 Gurgaon entire stock portfolio worth about Rs 6,000 crore ($868 million) at that time.
In 2010-11 financial year, DLF reported sales proceeds from residential projects at around Rs 890 crore ($130 million), down from Rs 1 billion recorded by previous year due to poor sales conditions across sectors such as commercial & institutional properties etc., said an official statement issued after market hours today by DLF India Ltd., Mumbai.-
The new management at DLF has been working to recover from years of debt and infuse capital into the company.
DLF 4bhk Apartments On Golf Course Extension Road Gurgaon has been going through a massive rejig in its operations and strategies as the new management is working towards turning around its fortunes after years of accumulation of debt and nearly negligible capital infusion in the main real estate business.
The company has decided to focus on five key segments: residential, retail, hospitality, logistics and infrastructure development. This will help it diversify away from being just a builder by offering more products across different verticals.
In its strategy to reduce debt, DLF recently issued shares worth more than Rs 9 billion.
As part of its strategy to deleverage itself after years of accumulation of debt and almost negligible capital infusion in the main realty business, DLF Residential Project In Sector 63 Gurgaon recently infused over Rs 9,000 crore through promoter funding route.
The company's board has approved the proposal for infusion at Rs 100 per equity share at a premium over yesterday's closing price. The offer will be open for subscription till March 5 as per company sources today.
The amount would help strengthen DLF's balance sheet by reducing its net debt by about Rs 10,000 crore or around 40 per cent from its current level to about Rs 50,000 crore or at least 20 per cent lower than it was before this transaction took place."It will also lend further credibility to our commitment towards financial restructuring so that we can continue moving forward," said A P Muthuraman who heads up corporate finance at DLF Developer New Project In Sector 63 Gurgaon which had ended last Wednesday with an updated capitalisation figure (see table below).
As of March 31, DLF's net debt was 16.475 billion rupees—a significant reduction from 19.735 billion at the end of December 2017.
DLF has been going through a massive rejig in its operations and strategies as the new management is working towards turning around its fortunes after years of accumulation of debt and nearly negligible capital infusion in the main real estate business.
 |
| DLF Developer New Project In Sector 63 Gurgaon |
Taking into account the recent Rs 9,00-crore fund infusion from promoter group, DLF s net debt stood at Rs 16,475 crore as on March 31, down from Rs 19,735 crore at the end of December quarter. The company had infused funds worth over Rs 9 lakh crore during 2007 to 2011 when it was having an annual revenue of about $4 billion (Rs 22 lakh crore). But with its financial performance deteriorating over last few years due to factors like high interest rates on borrowings which became prohibitively high for many companies at that time; tough competition from peers such as Unitech Ltd among others; sharp fall in prices across sectors including commercial properties and residential apartments etc., DLF s net profit declined from around Rs 567 crore ($100 million) in FY08-09 FY10-11 period while operating profits dropped by nearly 80% during same period
DLF's focus is on affordable housing projects in Gurgaon.
Gurgaon-based DLF Ltd, India's largest real estate developer and developer of luxury projects, has launched its latest residential project named DLF Residential Project In Golf Course Extension Road located on the foothills of Gurgaon. The project will have six towers with a total built up area of 1,484 acres.
The new development is spread over an area of 697 hectares and will have over 2 lakh sqft commercial space with amenities like retail shops, restaurants and cafes etc., which will be available for sale or lease at different prices depending upon availability in each tower.
Conclusion
DLF has been going through a massive rejig in its operations and strategies as the new management is working towards turning around its fortunes after years of accumulation of debt and nearly negligible capital infusion in the main real estate business. As part of its strategy to deleverage itself after years of accumulation of debt and almost negligible capital infusion in the main realty business, DLF had recently infused over Rs 9,000 crores through promoter funding route. Taking into account the recent Rs 9,00-crore fund infusion from promoter group, DLF's net debt stood at Rs 16500 crore as on March 31
Contact us Now!
Website - https://www.dwarkaexpresswaynewproject.in/developer/dlf-developer
Skype Join Link - https://join.skype.com/invite/pk4Y1zcKbg4c
Skype Id - shalabh.mishra
Telegram - shalabhmishra
Whatsapp - +919212306116
Email - mailto:shalabh.mishra@gmail.com
Mobile - +919212306116
Comments
Post a Comment