DLF to invest Rs 3,500 crore
DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects, a senior company official said. DLF has 18.5 million square feet area under construction in various housing projects, and it is targeting to complete about 15-16 million sq ft by end of this year and create finished stocks amid slow sales in the residential segment. "We have already constructed nearly 11 million sq ft in the first three quarters of this fiscal. Now, we are targeting to complete almost all of our projects this year," DLF's Group Chief Financial Officer (CFO) Ashok Tyagi told. "We will be investing Rs 3,250-3,500 crore on construction during this calendar year," he said, adding that the company continues to focus on execution of existing projects and also to create finished un-launched inventory. DLF has residential projects in Delhi, Gurgaon, Hyderabad, Kochi and Panchkula among others. The company has recently started developing two new office projects in Gurgaon and Chennai, totalling 4 million sq ft of leasable area, after it exhausted all commercial stocks.
Tags : News/Views