DLF restructures existing loans to lower interest costs, targets to save Rs 300 crore annually
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“In March 2020, most of our loans were at 9% interest rate, by December, we had reduced it to 7.5%,” Ashok Kumar Tyagi, whole-time director at DLF Ltd, told ET. “Our existing lenders are offering aggressive rates. We believe the average interest rate should be around 7.5%.”
Agencies
DLF has developed 153 real estate projects with a total area of about 330 million sq ft.
NEW DELHI:
DLF Ltd, the country’s biggest real estate developer, is restructuring existing loans with a target of saving Rs 300 crore annually, taking advantage of the benign interest rate environment, said a senior company executive.