After raising Rs 7,200 crore in new project in 72 hours, what is DLF doing next? Ashok Tyagi answers
Ashok Tyagi, Whole Time Director, DLF, says” “It has only been a couple of quarters that we have now come in the positive cash surplus trajectory. We had a debt mountain which significantly we had reduced in 2017 with the GIC transaction, then to some degree with the QIP in 2019. And the rest is all done through operational flows. Future cash flows should hopefully be split across growth and dividend.”
Tyagi further says: “At least two major launches are lined up in Gurgaon. One launch is lined up in Mumbai, which obviously is a small launch, of about Rs 2000 crore. One launch is lined up in Goa and one launch should hopefully be lined up in Chennai, the approvals are still in the final stages. There will be at least one small launch in the Tri-City of Chandigarh as well. I think we have the launch pipeline pretty well covered.”
You have raised Rs 7,200 crore in your new project in less than 72 hours?
Ashok Tyagi: That is correct.
Is it true?
Ashok Tyagi: It is true. We have made an official release also now. This was a project just off the southern periphery road in Gurgaon and it is a relatively newer geography for us. And we launched this project, Privana South with about 1100 odd apartments costing about Rs 7 crore each. And it is true that it all got sold in 72 hours.
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Ashok Tyagi: One more thing is that this time, unlike the industry practice, we did not take a booking amount of Rs 5 or 10 lakh. We actually upped the booking amount to Rs
