DLF will trim its debt by about Rs 4,000 crore this fiscal even if the company is unable to close the $300 million deal to sell the luxury hotel chain Amanresorts. Last month, DLF had started discussion with other potential buyers of Amanresorts as well, after the deal with founder and Indonesian hotelier Adrian Zecha could not be concluded within the June deadline.
Further, the company has entered into an agreement to sell wind energy projects and its 74% stake in life insurance JV for about Rs 800 crore and Rs 300 crore, respectively, while the company would mop up Rs 900 crore from land sale in Hyderabad and Noida. Nearly Rs 200 crore is expected from sale of investment in listed firms and its stake in Star AluBuild The country’s largest realty firm is targeting to bring down the net debt to Rs 10,000-11,000 crore from Rs 21,350 crore within the next three years with the help of proceeds from the issue of shares and sale of non-core assets.
| Company Name | CMP |
|---|---|
| Lodha Developers | 871.70 |
| Dilip Buildcon | 457.55 |
| DLF | 601.80 |
| Oberoi Realty | 1710.00 |
| Ahluwalia Contract(I | 832.90 |
| View more.. | |
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