DLF plans to raise Rs 1,000 crore via issue of NCDs

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Published: March 5, 2020 6:02 PM

DLF said it is "desirous of offering listed redeemable secured non-convertible debentures (NCDs) aggregating Rs 1,000 crore in one or more tranches"

DLF, non-convertible debentures, finance committee, latest news on DLFA meeting of the finance committee of the board of directors is scheduled to be held on March 7 to consider this proposal, the company said in a regulatory filing.

Realty major DLF on Thursday said it plans to raise Rs 1,000 crore through issue of non-convertible debentures. A meeting of the finance committee of the board of directors is scheduled to be held on March 7 to consider this proposal, the company said in a regulatory filing.

DLF said it is “desirous of offering listed redeemable secured non-convertible debentures (NCDs) aggregating Rs 1,000 crore in one or more tranches”. Last month, the company had reported a 24 per cent increase in consolidated net profit at Rs 414.01 crore for the quarter ended December as against Rs 335.15 crore in the year-ago period.

Total income in the third quarter of 2019-20 fell 36 per cent to Rs 1,533.34 crore from Rs 2,405.89 crore in the corresponding period previous year. The company’s net sales bookings rose 21 per cent to Rs 2,156 crore during April-December in 2019-20 on better demand for its completed inventories.

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