The real estate giant said that it has exercised the option to prepay the non-convertible debentures (NCDs) one year ahead of the annual interest reset date of March 25, 2023.
The company had issued 5,000 senior, secured, rated, listed, redeemable, rupee-denominated NCDs with face values of Rs 10 lakh each, totaling Rs 500 crore at a three-year coupon rate of 8.25%.
DLF stated that on March 24, 2023, it will redeem the outstanding principle amount as well as the accumulated yearly interest.
DLF’s main activity is the development and sale of residential homes (the development business), as well as the development and leasing of commercial and retail assets.
Despite a 3.5% decrease in income from operations to Rs 1,494.80 crore in Q3 FY23 compared to Q3 FY22, the real estate developer’s consolidated net profit increased 36.8% to Rs 519.21 crore.
DLF shares are presently trading at Rs 346.25 on the BSE, up 0.95%.