DLF’s net sales bookings fell sharply by 63% to Rs 1,160 crore during the last fiscal due to demand slowdown in the property market. There was gross sales booking of Rs 2,100 crore; cancellation/ up-gradation of Rs 940 crore resulting in net sales booking of Rs 1,160 crore booked in FY17. This is in comparison to net sales booking of Rs 3,150 crore in FY16.
The company completed 14.5 million square feet of area in the last fiscal. The net debt of the company has increased by nearly Rs 700 crore in January-March quarter of the last fiscal at Rs 25,096 crore.
DLF is one of India’s biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.