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DLF plans to sell wind energy business for Rs 900 crore: Report

17 Jan 2013 Evaluate

DLF is reportedly planning to sell its wind energy business for about Rs 900 crore to an unlisted firm founded by the former General Electric India boss Tejpreet Singh Chopra.

Initially, the company will sell windmills that can generate up to 200 megawatts of power and have permission from state governments to transfer power purchase agreements. Afterwards, it will sell the assets that can generate another 28 MW of power.

The company needs the permission of state government for transferring PPA before they sell power generating assets.

DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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