(MENAFN) Aided by a rise in revenue from commercial rental business, DLF Limited, the largest commercial real estate developers in India, logged 24pct climb in quarterly profit.
The firm's gross debt declined to USD 3.14 billion over Oct-Dec from USD3.31 billion it registered in the previous quarter, plus net profit was at USD24.03mn, up from 19mn in 2014's same period.
Basically, rising income levels, lower mortgage interest rates over the past year and easier capital regulations for loans to mid-segment home buyers are expected to drive demand for housing units.
DLF developed residential colonies in Delhi such as Shivaji Park, Rajouri Garden, Krishna Nagar, South Extension, Greater Kailash and Kailash Colony, plus it builds residential, office, and retail properties.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.