DLF writes off Rs 800cr from Q4 PBT

DLF has written back Rs 800 crore from Q4 profit before tax (PBT) on reversal of sale to DLF Assets, reports CNBC-TV18. DLF’s Q4 PBT could have been Rs 3,500 crore versus the reported Rs 2,704 crore. The reversal of sale is on account of properties not qualifying as IT/ITes SEZs.

DLF Assets has raised USD 450 million from London-based Symphony Capital, said Rajiv Singh, Vice-Chairman, DLF.

CNBC-TV18 had reported earlier that DLF Assets Ltd was to take the private trust route instead of REIT till markets stabilize.