DLF repays loans of about Rs 1,000 cr

Real estate company DLF Ltd is learnt to have repaid loans to the tune of nearly Rs 1,000 crore during December, to various banks. It has also raised close to Rs 1,750 crore from a clutch of banks including PNB and SBI, a senior official told Business Line. “Overall, the company has converted the short-term foreign debt into long-term Indian borrowing. Earlier, the foreign debt had become cheaper than Indian debt and Indian banks had also become cautious in funding real estate. However, now the situation has somewhat reversed, and so the company has made this move,” the source said but declined to divulge the names of the banks the amount was repaid to. Another top official pointed out that the company had not approached any bank for rescheduling or restructuring of its loans. “The company has neither sought rescheduling of loans nor roll over,” the official pointed out. RBI had, last month, permitted banks to consider their commercial real estate exposure restructured up to June 2009 under the ‘standard category’.