Debt
DLF, the country’s biggest real estate company, is set to sell its 17-acre National Textile Corporation (NTC) land in Mumbai to Mumbai-based Lodha Developers to reduce its rising debt, said market sources. The deal is estimated at Rs 2,500-2,700 crore. Lodha Developers has already paid Rs 500 crore in advance and it would pay the [...] Continue Reading »
DLF builder has planned to focus on building luxury homes and continue selling non-core assets to reduce debt. DLF, which saw a 37 percent erosion in its share price in 2011, is struggling to meet a target of selling non-core assets worth 60-70 billion rupees by 2012-13 to pare its debt. Since 2007-08, DLF’s interest [...] Continue Reading »
Brigade Enterprises, a real estate builder in Bangalore, has announced to raise additional capital of Rs 750 crore by issuing equity based securities to various investors through Public-Private Offerings, QIP, or Preferential share allotment. This is in addition to their earlier plan of raising Rs 500 crore by private equity investments. The exact mode and [...] Continue Reading »
Raising debt amount is becoming a burden for the DLF builders. To ease its debt burden, the real estate group is focusing on luxury home projects in India. In a report it is found that the company has faced serious construction delays which had a drastic impact on its ability to reduce its huge debt. [...] Continue Reading »
Though it is found that the performance of DLF is slightly better than last quarter, they are still struggling to attract the investors. Most of their projects are still laying unoccupied due to high interest rate for funding. Most of the home buyers are looking for local builders for buying apartments in India. That is [...] Continue Reading »
Hindustan Construction Co. Ltd has started selling non-core assets to reduce the debt burden. They have already sold 20 acre land along the Mumbai Pune expressway. As on March 31st, the total debt amount of HCC is Rs. 4200 crore. To reduce the debt amount the group has decided to sell another 80 acres at [...] Continue Reading »
Realty firm Ansal Properties and Infrastructure (Ansal API) has reduced its net debt by nearly Rs 252 crore during the last fiscal on improved cash flow. At the end of the financial year 2012, the company’s net debt stood at Rs 1,209.6 crore. In the year 2011-12, Ansal achieved a sales booking of 22.70 million [...] Continue Reading »
In the global economic downtime, the companies in India are planning to sale their non-core and core assets to reduce the debt burden. Companies from all sectors like lifestyle, telecommunication, retail, real estate are walking in the same direction. We can see several movements taken by the DLF builder to sell its land bank and [...] Continue Reading »
One of India’s largest textile firms, Alok Industries has sold its eight floors in an office building in Mumbai’s Lower Parel area. Alok Industries sold around 252,000 sq. ft of prime office space in tower B of the Peninsula Business Park at a cost of Rs 425 crore. Alok Industries took the decision to reduce [...] Continue Reading »
Emaar-MGF is looking at fast completion of its existing projects in India in the current financial year rather than launching new projects. The main focus of the company is on business consolidation as several of its projects are running behind the schedule and the developer is reeling from a heavy debt burden. Though some new [...] Continue Reading »
