DLF is planning to reduce its debt to Rs 12,000-14,000 crore by FY17 through asset monetisation and increasing cash-flows from sales. As of FY’14, the largest realty major had a debt of Rs 19,000 crore. Moreover, the company is looking at selling some of its non-core assets. Besides, the company will also use the cash flows from sales to pare debt.
The country’s largest realty company, which has been on a drive to sell its non-core assets, achieved non-core sales of Rs 5,930 crore by selling its wind energy business, insurance business and hospitality venture Aman Resorts, besides getting a refund from the government for its Dwarka project and the institutional placement programmes.