DLF raises Rs 1,000cr via issue of debentures

Realty major DLF has raised Rs 1,000 crore through the issue of non-convertible debentures on a private placement basis.

The company has allotted 10,000 senior, secured, rated, listed,  redeemable, non-convertible debentures of the face value of Rs 10 lakh each at par, according to a regulatory filing.

The tenure of the NCDs is three years with coupon rate of 9.25 per cent and 9.5 per cent annually. The debentures will be listed on the BSE.

Earlier this month, DLF's finance committee constituted by the board of directors had approved the issuance of NCDs, with an aggregate principal amount up to Rs 1,000 crore, on a private placement basis.

Last month, the company had reported a 24 per cent increase in consolidated net profit at Rs 414.01 crore for the quarter ended December as against Rs 335.15 crore in the year-ago period.

Total income in the third quarter of 2019-20 fell 36 per cent to Rs 1,533.34 crore from Rs 2,405.89 crore in the corresponding period of the previous year.

The company's net sales bookings rose 21 per cent to Rs 2,156 crore during April-December in 2019-20 on better demand for its completed inventories.