DLF targets Rs.3,500-cr realty projects

Fast tracking the construction activities, DLF, the largest real estate builder of the country, has recently announced its plan to invest about Rs.3,500 crore this fiscal, said an official spokesperson, adding that the builder will complete the construction of almost all of its existing housing projects within the financial year. It has 18.5 million square feet area under construction in various housing projects in cities like Delhi, Gurgaon, Hyderabad, Kochi, and Panchkula, among others, and it is targeting to complete about 16 million sqft realty space by end of this fiscal itself. DLF reported 46% fall in profit at Rs.98 crore and 30% drop in net sales to Rs.2,058 crore in December, compared with the previous period and its net debt increased to Rs.24,397 crore during the December quarter as against Rs.23,140 crore in the preceding quarter, he claimed.