DLF Plans to Raise Rs 600 Crore through Issue of Debentures

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DLF Ltd, a leading realty firm, is set to raise Rs 600 crore through the issuance of non-convertible debentures (NCDs) to investors, aimed at refinancing its existing debts. 

The Securities Allotment Committee of DHDL's Board of Directors has approved the allotment of 60,000 NCDs, each with a face value of Rs 1 lakh, totaling Rs 600 crore, on a private placement basis to eligible investors. While DLF did not specify the utilization of the raised amount, sources indicate that it will primarily be directed towards refinancing existing debts.

DLF Group boasts a substantial development potential of 215 million square feet across residential and commercial segments, with an annuity portfolio exceeding 42 million square feet.

The company has witnessed a significant surge in sales bookings, which doubled annually to Rs 13,316 crore during the first nine months of the fiscal year, driven by robust demand for its luxury housing properties in Gurugram. This marks a substantial increase from the Rs 6,599 crore sales bookings recorded during the same period in the previous fiscal year.

In the 2022-23 fiscal year, DLF's sales bookings surpassed Rs 15,000 crore. Looking ahead, the company aims to launch properties worth nearly Rs 80,000 crore over the next 3-4 years to capitalize on the growing demand for housing and commercial projects.