DLF’s net debt rose by around Rs802 crore to Rs25,898 crore in the first quarter compared to the preceding quarter. In the last one year, DLF’s net debt has risen by almost Rs3,778 crore. “Almost zero incremental sales coupled with outflow for construction activities to accelerate project completions continued to burn cash during the quarter. Operating cash deficit of Rs750 crore per quarter to continue for next 2-3 quarters,” the developer said in the presentation. Continued capex in new office complexes and construction spend on residential spend shall result in temporary spike in net debt levels for which financing is already in place,” DLF said.

Source: Mint August 13, 2017 05:03 UTC