DLF Sales Bookings Increased by 46% During April-December Period

dlfDespite of the hold back in real estate sector, the sales bookings of the realty giant, DLF Group got escalated by 46% in April-December. The sales increased to Rs. 3,760 crore. A year ago, this realty firm sold properties worth Rs. 2,575 crore.According to the Chief Financial Officer of DLF, the successful launch of its prestigious project, Crest and Camellias located in Phase V, Gurgaon, has significantly increased the company’s sales bookings in the first 4 to 5 months of the present financial year. He further said that due to economic slowdown and high interest rate, the sales got affected considerably. He also thinks that this economic condition would continue till this year, September and adversely result in muted sales of the properties.Talking about the debt, he stated that the net debt would be around Rs. 1700 to Rs. 1800 crore in short term. With the support of non-core assets, DLF has decreases its debt to Rs. 17,400 crore from Rs. 2,500 crore. However the interest cost will be getting reduced by next financial year.The company has recently sold its hospitality project, Amanresorts for over Rs. 2,200 crore. DLF also settled the issue with Delhi Development Authority at Rs. 676 crore for Dwarka Convention Centre project.The sales booking of DLF Group was strong by Rs. 2430 crore in the first quarter of fiscal year 2013-14 but subsequently it was knocked down to Rs. 730 crore and Rs. 600 crore in the next two quarters.займ на карту без отказов круглосуточновзять кредит онлайн

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