DLF reports 7% rise in sales bookings in FY14

DLF has reported 6.68% rise in its sales bookings in FY14 to Rs 4,070 crore against Rs 3,815 crore in the previous year, amid slowdown in demand. In volume terms, sales bookings fell to 3.74 million sq ft during last fiscal against 7.23 million sq ft in 2012-13. Moreover, the company’s net debt stood at Rs 18,526 crore as on March 31, 2014, a drop of Rs 1,400 crore from Rs 19,926 crore at the end of the December 2013 quarter on the back of divestment of non-core assets. Debt reduction was possible with help from funds raised through divestment of luxury hospitality (rpt) hospitality chain Amanresorts and settlement with Delhi Development Authority (DDA). Recently, the company reported a consolidated net profit of Rs 219.68 crore for the quarter ended March, 2014 on the back of gains from sale of hotel chain Amanresorts. It had registered a net loss of Rs 4.19 crore in the year-ago period.