Economy & Market

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

Published

13 years ago

November 14, 2012

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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.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/