In a bid to boost cash flows and reduce debt, DLF has sold four acres of land in Kochi for Rs 111 crore. The company has sold the same as part of its plan to sell non-core assets.
Realty major has been selling non-core land parcel and businesses for the last three-four years to focus on its core real estate business as well as to improve its cash flows and reduce debt. The country’s largest realty firm has raised more than Rs 10,000 crore through this process. DLF's net debt increased to Rs 21,598 crore as on June 30, from Rs 20,965 crore at the end of the March quarter.
Recently, the company sold its cinema business DT Cinema for Rs 500 crore. It had sold last year hospitality chain Amanresorts to its original founder Adrian Zecha for about Rs 2,200 crore.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation.
| Company Name | CMP |
|---|---|
| Lodha Developers | 1039.50 |
| Dilip Buildcon | 442.25 |
| Sobha | 1444.50 |
| Oberoi Realty | 1909.90 |
| DLF | 671.00 |
| View more.. | |
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