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DLF Plans to Improve Their Business During This Fiscal Year

By Vinay Jain Subscribe to RSS | July 20th 2012 | Views:
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Real estate major DLF nowadays said it plans to chop its Rs 23000 crore debt to concerning Rs 17000 crore during this fiscal and declared that it absolutely was not unduly "perturbed" by the large debt. The firm hopes to sell a minimum of 2 out of its 3 big-ticket non-core business by the year finish to chop debt.

DLF has placed its luxury hospitality chain Aman resorts, wind energy and a large land holding in Mumbai on the block as a part of its plans to exit from non-core ventures and focus solely on the property business.

We are not unduly perturbed by the debt. We have got annual rental income of Rs 1800 crore from a leasing portfolio of twenty eight million square feet of workplace and retail area across the country. We are also planning to develope many different residential property in Kolkata at different locations. The rental income, that is growing each year, roughly equals the interest payout on the companies borrowings. DLF expects to boost Rs 6500 crore from sale of non-core assets this fiscal, of that Rs 5000 crore would be utilised to repay debt and therefore the rest are used for capital expenditure.

The debt can come back right down to a level of concerning Rs 17000 crore by end of this fiscal. He said negotiations are at the moment on with potential consumers and deals to sell a minimum of 2 out of the 3 non-core businesses might happen any time. However, refused to divulge details. All i will say is 2 deals could available by September or October. These residential property in Kolkata will be luxurious and premium and offer one of its kind living style.

DLF could realise around Rs 2000 crore from sale of twenty one properties beneath brand Aman resorts, Rs 1000 crore for wind energy business and another Rs 3000 crore for Mumbai land that the corporate had bought from NTC for Rs 700 crore in 2005.

DLF won't sell the Lodhi Road property of Aman Resort within the heart of national capital because it needs to retain it for the land price. In the last number of years, DLF has raised Rs 4844 crore from sale of non-core assets, including hotel plots and IT Parks/SEZs.

Apart from divestment of non-core assets, the corporate is additionally targeting a twenty three percent surge in its sales bookings at Rs 6500 crore this fiscal from Rs 5200 crore in 2011-12. The company had posted a net profit of Rs 1200 crore in 2011-12 fiscal on a revenue of Rs 10224 crore. Of the expected property registration, DLF has targeted Rs 1500 crore from a exotic residential project 'Magnolia' at Gurgaon that it will launch within the second half this fiscal.

Asked whether or not DLF has set to focus solely on NCR, our focus can invariably stay NCR. However we tend to are developing property in alternative components of the country yet in cities like Kolkata, Bangalore, Chandigarh, Kochi, Indore, Lucknow, Hyderabad and Chennai.

The company is currently constructing fifty million square feet of space and of that fifty percent is in NCR. As a part of business strategy in FY 2013, DLF needs to conserve money with moderate capex and land acquisition and defend margins through 'cost escalation' clauses. The corporate would still target high-margin comes like luxury housing and plots development.

Vinay Jain - About Author:
PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call if you want to buy a property in Kolkata.

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