Go­drej Prop­er­ties re­duces its net debt

Realty Plus - - News -

Realty firm Go­drej Prop­er­ties has cut its net debt by around Rs 650 crore dur­ing last fis­cal on the back of strong sales book­ings and also brought down av­er­age bor­row­ing cost by one per­cent­age point. The net debt of Mum­bai-based real es­tate de­vel­oper has come down to Rs 2,846 crore as on March 31, 2018 from Rs 3,499 at the start of the last fis­cal. The av­er­age bor­row­ing cost stood at 7.8 per cent as on March 31, 2018 as against 8.8 per cent at the end of 2016-17. Net debt-eq­uity ra­tio has also re­duced to 1.27 from 1.75 dur­ing the pe­riod un­der re­view.

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