New Delhi: DLF Ltd, India’s largest real estate developer by market value has prepaid around Rs400 crore of debt. CNBC-TV 18 first reported the news. DLF needs to repay around Rs2,000 crore of debt by March this year. Out of this DLF has prepaid Rs400 crore, Rajiv Talwar, group executive director of DLF said.
DLF is also looking at restructuring its debt like other real estate companies. DLF has a net debt of around Rs13,000 crore. The company is replacing Rs4,000 crore of short-term debt that will mature in the later part of the year with long-term debt. In the third quarter, DLF replaced Rs1,000 crore of short-term debt and it plans to replace Rs3,000 crore of debt by this fiscal.
DLF’s share price was down by 1.08% to close at Rs150.85 on the Bombay Stock Exchange while India’s benhmark index Sensex was down by 0.30%.