DLF to sell two non-core assets in Q2 to reduce debt

04 Aug 2011

DLF will sell at least two noncore assets in this quarter which wouldhelp it partly reduce its net debt of Rs.21,524 crore starting this quarter. Thecompany has currently four non-core assets which it plans to close, out ofwhich it will sell two. DLF had plans to raise Rs. 6,000-7,000 crore over thenext two-three years through the sale of its non-core assets such as IT parks,land parcels and its hotel businesses and use the proceeds to reduce debt. Thecompany’s net debt increased marginally by Rs.100 crore during the April-Junequarter this fiscal to Rs. 21,524 crore. In the last few months, it has sold400 plots in its 101-acre gated township Garden City in Gurgaon’s sector 91-92,raising Rs. 700 crore. The combined sale by DLF and co-promoters Ackruti Cityand The 3C Company is expected to generate Rs.1,300 crore. Blackstone is likelyto buy the IT SEZ in Pune for Rs. 900 crore, while a private equity fund isabout to close the deal for the Noida IT Park for Rs. 400 crore.

crackcrack

DLF Share Price

302.90 -11.65 (-3.70%) Feb 26, 18:55
1 Year Price Chart
Peers
Company Name CMP
Dilip Buildcon 679.80
NBCC (India) 42.85
Sobha 439.55
JMC Projects (India) 74.45
Prestige Estate Proj 298.40
View more..
Sensex vs DLF
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback