Largest real estate company, DLF, is planning to raise about Rs 2,500 crore by end of this fiscal from sale of its two non-core businesses, luxury hospitality chain Amanresorts and wind energy business. The sale proceeds would be utilized to trim the net debt of the company, which were at Rs 22,680 crore as on June 30, 2012.
Uptill June 2012, the company raised Rs 5,213 crore from sale of non-core assets. With closure of Mumbai land deal, the proceeds from divestment of such assets have reached nearly Rs 8,000 crore. In August, DLF announced sale of this land parcel to Lodha Developers for about Rs 2,700 crore, almost four times higher than the price it paid for its acquisition in 2005.
