DLF Limited cuts net debt by Rs 2,500 crore after selling Amanresorts

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DLF Limited's current net debt is at Rs 17,400 crore. DLF Limited's current net debt is at Rs 17,400 crore.
SummaryDLF Ltd has reported a 49 pct drop in net profit to Rs 145.29 crore for Oct-Dec quarter.

about Rs 1,000 crore through issue of securities backed by mortgage of two retail assets.

"Worsening economic conditions during last 2 quarters and continued high interest rates has led to muted sales and profits. Current forecast is that these adverse economic conditions shall continue through Q2FY15," DLD said.

Given the current economic outlook, the general demand including that for real estate product would continue to be soft in the near term. "In the best case scenario, we can expect slow tapering of interest rates".

Yesterday, DLF reported a 49 per cent drop in consolidated net profit to Rs 145.29 crore for the October-December quarter of this fiscal due to one-time provision of loss related to the settlement with DDA.

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