DLF's net debt surges by nearly Rs 400 crore in Q3 to Rs 20,336 crore

DLF, the home-grown real estate giant's net debt increased by nearly Rs 400 crore to Rs 20,336 crore during the third quarter of the current 2014-15 financial year.

According to investors' presentation, the net debt of DLF, the country's largest realty developer, rose to Rs 20,336 crore as of December 31, from Rs 19,943 crore at the end of the second quarter.

The current attributable net debt to DevCo (development arm) is Rs 6,350 crore and to RentCo (rental business) is about Rs 14,000 crore, it added.

DLF expects the net debt of DevCo to stay range bound (+/- Rs 1000 crore) in the short term. The attributable net debt to RentCo (rental business) would continue to increase as the rentals and capex of this segment grows.

"Target remains to maintain and reduce Devco Debt through improvement in operating/monetisation cash flows and to reduce RentCo debt through capital actions through REITs," the real estate developer said.

Read full story: DLF's net debt surges by nearly Rs 400 crore in Q3 to Rs 20,336 crore