D B Realty Defaults In Repayment to Yes Bank, HDFC Ltd

New Delhi: Mumbai based D B Realty has been defaulting in repayment to various lenders including Yes Bank. 

The realty firm defaulted in repayment to Yes bank on 2 January 2020 to the tune of Rs 4.16 crore towards interest. The firm had taken a term loan of Rs 240.30 crore for two years at 10.35 percent interest. D B Realty defaulted in repayment to Yes Bank again on 2 February 2020 to the tune of Rs 4.22 crore towards interest. Then it defaulted again on 2 March 2020 to the tune of Rs 6.28 crore towards interest.

D B Realty also defaulted in repayment to HDFC Ltd on 31 January to the tune of Rs 80 crore towards principal and Rs 3.69 crore towards interest. On 1 February 2020, the developer defaulted in repayment to HDFC Ltd to the tune of Rs 80 crore towards principal and Rs 5.05 crore towards interest. D B Realty had taken a loan of Rs 80 crore from HDFC Ltd at a rate of 20 percent interest and the entire loan is due for repayment fir quite some time now. 

The total amount of outstanding borrowings from banks and financial institutions was Rs 645.65 crore as on 2 March 2020 and the total financial indebtedness of the company including short-term and long-term debt was Rs 1087.31 crore on that date, according to a regulatory filing.

D B Realty incurred a net loos of Rs 87.12 in the 2017-18 fscal and Rs 120.50 crore in the 2018019 fiscal. 

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