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DLF cuts debt by Rs 2,000 cr by selling Mumbai’s land

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DLF has reduced its net debt by Rs 2,000 crore during the ongoing quarter to Rs 21,220 crore on the back of sale of its prime land in Mumbai to Lodha Developers.

The company’s current net debt stands at Rs 21,220 crore as against Rs 23,220 crore as on September 30, according to an analyst presentation by the company.

The National-Capital based realty major will also launch 9-10 million sq ft of real estate projects during the second half of the current financial year. As on date, net debt position is Rs 21,220 crore… With the consummation of the balance divestments, the net debt of Rs 18,500 as on March 31 is highly achievable," it added.

The net debt, however, went up by Rs 540 crore during the July-September period to Rs 23,220 crore, the company said. Its net debt stood at Rs 22,680 crore as on June 30. DLF attributed the increase in net debt to one-time outflows such as dividend of Rs 450 crore and other payments such as government charges amounting to Rs 350 crore.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

Image source:holcim

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

Image source:highways.today

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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