New Delhi: DLF Ltd has decided to endow an investment of Rs 3,000 crore for various projects spread across the country in fiscal year 2014. Last year, the company has made sales booking of around 7.23 million sq ft and with the investment of the 3,000 crore this fiscal year, the company is targeting sales booking of 8-10 million sq ft.DLF Group’s Ashok Tyagi said that company will invest an amount of Rs 3,000 crore and are expecting to get sales booking worth Rs 6,000 crore from the investment. The company has earned Rs 3,900 crore from the bookings of the past year.DLF has outstanding debt of Rs 21,000 crore on March 31, 2013 and it is aiming to reduce it to Rs 19,000 crore till June 2013 and further will be reduced to Rs 17,000 Crore by the end of current fiscal year. The company further plans to bring the debt level down by 50 per cent in the next three years.The company is getting good price appreciations from its existing projects like Crest in Gurgaon along with some new projects in Lucknow and Panchkula.In the past fiscal year company’s Net profit has declined by 41 percent from Rs 1,200.82 crore to Rs 711.92 crore. Last week the construction of the Crest Project in Gurgaon by the Punjab and Hariyana high court. The company officials said that they are trying to resolve the court issue as early as possible.DLF also announce that they will launch its new residential project in Gurgaon in next two months named as “Camellia”.
