New Delhi, May 22: Realty major DLF’s net debt fell 45 per cent during the last fiscal year to Rs 2,680 crore on the back of better sales of residential properties that improved its cash flow.
According to an investor presentation, DLF’s net debt stood at Rs 2,680 crore as on March 31, 2022. Its net debt stood at Rs 4,885 crore at the end of 2020-21 financial year.
“Net Debt reduction of Rs 2,205 crore in FY22. Consistent reduction from operational surplus,” the presentation said.
DLF said that it is committed to further debt reduction in the medium-term.
The cash flow from the sale of completed properties and receivables from sale of ongoing projects would be sufficient to discharge all current liabilities.
The company said the launch of new projects would help generate healthy cash flows.
During the last fiscal, DLF’s sales bookings jumped over two-fold to Rs 7,273 crore, driven by better demand for its properties, especially luxury homes.
Its sales bookings stood at Rs 3,084 crore in the 2020-21.
DLF highlighted that this has been its strongest performance in the last 10 years.
The company said it would continue to focus on tapping newer geographies by bringing new products.
It would launch new projects at multiple price points across segments to meet growing demand.
As per the presentation, DLF would focus on increasing market share in core geographies and monetizing land banks.
“High margin products coupled with calibrated price hikes to offset inflationary pressure; consistent value enhancement across the product portfolio,” the presentation said.
Recently, DLF reported a 16 per cent decline in its consolidated net profit at Rs 405.33 crore for the quarter ended March due to lower-income.
Its net profit stood at Rs 480.94 crore in the year-ago period.
Total income declined to Rs 1,652.13 crore during the March quarter, from Rs 1,906.59 crore in the corresponding period of the previous year.
Net profit rose to Rs 1,500.86 crore during the last financial year, from Rs 1,093.61 crore in the 2020-21 fiscal year. Total income rose to Rs 6,137.85 crore in 2021-22, from Rs 5,944.89 crore in the previous year.
DLF is India’s leading real estate developer in market capitalisation. It has developed more than 153 real estate projects and developed an area in excess of 330 million square feet. (PTI)
Follow our WhatsApp channel
