Realtors Have Been Adding Rs14 Crore Debt A Day
The debt load of 11 listed real estate companies in the country has risen 15 per cent, or by Rs 5,000 crore, to Rs 38,500 crore in the last 12 months. That’s nearly Rs 14 crore of debt added every single day. Most of the increase happened in the latter half of the last fiscal which ended on March 31, an analysis by Mr Aashiesh Agarwaal and Mr Adhidev Chattopadhyay, analysts with Edelweiss Securities. A huge chunk of this or Rs 21,520 crore is being borne by DLF. That number is up 16.6 per cent, or by Rs 3,060 crore, from Rs 18,460 crore in the last 12 months. Meaning, DLF alone added more than Rs 8 crore per day to its debt bloat. Daily News & Analysis, 24th August 2011
No comments:
Post a Comment