Graphic: MintDLF Ltd’s real estate edifice, which was crumbling under a Rs27,000 crore debt burden (as of September 2017), finally got some respite as promoters infused funds into the firm to repay debt. The consolidated net debt is now Rs5,513 crore, after Rs16,561 crore moved out of its books to DLF Cyber City Developers Ltd. In other words, if the two figures are combined, DLF group’s debt stands at Rs21,587 crore. DLF is confident of repaying more in the coming months as balance funds from stake sales and other instruments of asset monetization bear fruit. The management in its media release said that the DLF Cyber City business is likely to grow at a compound annual growth rate of 15% for the next 10 years.

Source: Mint February 15, 2018 03:11 UTC