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Media Information
Financial News in January / Feb 2010

Published & Updated as on - 2010-02-18

DB Realty IPO Gets A Good Response

With its initial public offering getting subscribed 2.92 times DB Realty has evoked good institutional response. The Rs 1,500 crore IPO has already received good response from anchor investors. The company would use majority of the IPO proceeds (Rs 1,388 crore) in construction and development-related expenses. Source: 1/2/ 2010 DNA

DLF Looks Forward To Slash High Debt Cost Via Bonds

Realty major, DLF Ltd is seeking to sell Rs10 billion of bonds and is in talks for a foreign currency loan to help reduce high-cost debt, as per sources. The realtor is looking to sell two-year bonds carrying a coupon rate of 10%, payable half-yearly, and three-year bonds at 10.50%. The yield-to-maturity is 10.25% for the two-year bonds and 10.77% for the three-year tranche, the sources added. Source: 1/2/10 DNA

Listed Realtors Saw An Increase In Profit Margins

The companies, which are a part of the realty index of the Bombay Stock Exchange, witnessed an average increase of 7.21 per cent in their net profit during the October-December quarter as compared to the same quarter a year earlier. However, the companies are worried about the declining operating profit margin. Analysts asserted that realty companies witnessed a decline of up to 42 per cent in these margins during the quarter, primarily due to a shift towards middle-income housing and adjustment for cost increases. As far as upcoming quarters are concerned, both analysts and developers feel that they are going to bring some good news for the property market.

Source: 5/2/ 2010 Business Standard

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