DLF, India’s largest real estate developer is in discussion with Lodha Developers to sell its prime land in Mumbai for about Rs 2,700 crore. In 2005, it had purchased 17.5 acres of land from the National Textile Mills for about Rs 700 crore and now wants to sell this land to divest non-core assets to reduce its huge debt of Rs 22,725 crore.
The company is asking for the full payment at a time and does not want staggered payments. Lodha Developers will rope in a private equity firm in this deal. In the last couple of years, DLF has raised Rs 4,844 crore from sale of non-core assets, which included hotel plots and IT Park/SEZs.
