NEW DELHI: Realty major DLF is working towards making its housing business debt free by March next year and the cash flow from sales of completed inventories worth around Rs 14,000 crore would be utilised to fund new projects, its CEO Rajeev Talwar said.
In an interview to , he reiterated that the company would sell flats only after completion of the project and there would be no pre-launch sales.
“We are working towards that,” Talwar said when asked about the company’s target to become zero debt in housing business by March 2019.
The DLF CEO, who is set to take over as the new president of industry chamber PHDCCI next month, said the debt of housing business has already been reduced with infusion of funds in the company from promoters.
In December last year, the promoters sold their 40 per cent stake in the rental arm DLF Cyber City Developers Ltd (DCCDL) for around Rs 12,000 crore.