DLF, India’s largest real estate developer, is planning to sell at least two out of its three big-ticket non-core business by the year end to cut debt. The company has decided to reduce its Rs 23,000 crore debt to about Rs 17,000 crore in this fiscal.
The company aims to raise Rs 6,500 crore from sale of non-core assets this fiscal, of which Rs 5,000 crore will be utilized to repay debt and the rest will be used for capital expenditure. It has put its luxury hospitality chain Amanresorts, wind energy and a huge land holding in Mumbai on the block as part of its plans to exit from non-core ventures and focus only on the property business.
