DLF plans to cut debt by Rs1,000 crore a month
DLF Ltd, the countrys largest real estate developer, said it is looking to reduce its debt by Rs 600-1,000 crore each month in this fiscal by utilising funds raised by selling non-core assets, land plots, and the cash flow from operations.
It also added that it has replaced its entire short-term loans with long-term debt, with lower interest rates and repayment liabilities in the next 5-7 years.
The company had net debt of Rs 13,958 crore at the start of 2009-10, of which Rs 3,591 crore was to be cleared this fiscal.
However, the developer has been able to reduce the debt to Rs 12,000 crore, according to its latest statement.
More : dnaindia.com