Retail Investors with a horizon of over one year can consider subscribing to DLFs public issue. The company, which hopes to raise Rs 9,625 crore on the higher end of the band, will use the issue proceeds for land acquisition, development of existing properties and debt repayment.
BUSINESS : DLF is Indias largest real estate company and owns development rights to 574 million sq ft of real estate, of which, 51% is in the National Capital Region (NCR) and 23% is in Kolkata. The company builds and sells residential, office and retail properties. It also proposes to enter hotels, special economic zones (SEZs) and multiplexes.
Last fiscal, the company delivered 10.3 million sq ft of property to end users and entered into sale agreements (including advance sales) for about 20 million sq ft. DLF currently has 44 million sq ft of projects under execution, of which, 61% is office space, 22% is retail space and the remainder is residential. One encouraging factor for the company is the advances received from customers — these rose from Rs 590 crore in FY05 to Rs 2,404 crore by end FY07.
More : economictimes.indiatimes.com
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