DLF reduces net debt by 16% in September quarter to Rs 3,985 cr on improved cash flow


DLF reduced its net debt by 16% in the July-September period to Rs 3,985 crore on the back of improved cash flow amid picking up housing demand.

According to an investor presentation, DLF’s net debt fell to Rs 3,985 crore as of September 30, 2021 from Rs 4,745 crore at the end of the June quarter of this financial year.

” Net debt reduction of ~Rs 759 crore in Q2; Rs 900 crore at H1FY22 (first six months of this financial year),’ the company said.

Regarding the debt profile, DLF said that 64% of bank financing and 52% of scheduled repayments are over three years. ”Inventory completed and projects receivable sufficient to discharge all current liabilities,” he said.

DLF said new residential project launches would generate healthy cash flow going forward. “Medium-term excess cash generation after encountering short-term construction cash outflows,” the company said.

On operational performance, DLF said its sales bookings increased by 77% to Rs 1,512 crore in the July-September period from Rs 853 crore a year ago.

Sales bookings have been driven by strong demand at one of its luxury housing projects in Gurugram.

Collection from customers stood at Rs 1,448 crore in the second quarter of 2021-22 – the highest collections for the past five years.

On Thursday, DLF announced a 66% increase in its consolidated net profit to Rs 378.12 crore for the quarter ended September. The net profit of the company stood at Rs 227.75 crore in the prior year period.

Total revenue, however, fell to Rs 1,556.53 crore in the second quarter of the current financial year from Rs 1,723.09 crore in the corresponding period of the previous year.

Ashok Kumar Tyagi, Director and CEO of DLF Whole Time, said: “We are encouraged by the uptick in home sales and improving consumer sentiment across all segments and remain committed to bringing new offerings to market.” .

“We believe our quality offerings in our full inventory, new product pipeline growth coupled with a strengthened balance sheet have placed the company in a unique position to grow and capitalize on this growth cycle,” he said. declared.

DLF has so far developed 153 real estate projects and developed an area of ​​about 330 million square feet.

The company currently has 215 million square feet of development potential in the residential and commercial segments. The group has an annuity portfolio of over 35 million square feet.

DLF is primarily engaged in the development and sale of residential properties (the “Development Business”) and the development and leasing of commercial and retail properties (the “Annuity Business”).

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Posted: Friday, October 29, 2021, 10:17 p.m. IST

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