Last Monday, Adi Godrej, Group Chairman of the realty developer Godrej Properties admitted that on June 30, their net debt was reduced to Rs. 4 billion. He added that the balance sheet is really comfortable with the debt equity ratio of 0.5: 1.
As per the data revealed by Managing Director of Godrej Properties, Milind Korde, there was a net debt of Rs 4.50 billion on the company in the end of the financial year 2009.
In December, Godrej Properties which is a unit of Godrej Industries was able to raise around 100 million dollar through its Initial Public Offering (IPO).The share of firm closed at Rs 690.40 per share which is a decline of 1.69%.
