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DLF’s arm transfers assets, liabilities through slump-sale

08 Oct 2013 Evaluate

DLF‘s subsidiary- DHDL has transferred related assets and liabilities along with relevant long term loans on 'as is where is basis' by way of slump-sale upon receipt of a lump sum consideration of Rs. 67.44 crore. The transaction is a part of DLF’s objective of divesting its non-core assets.

Earlier, on April 04, 2013, definitive Business Transfer Agreement was executed between DLF Home Developers (DHDL), a subsidiary and Violet Green Power, a subsidiary of Leap Green Energy, to transfer the DHDL's undertaking comprising of 33MW wind turbines situated at Rajasthan, subject to regulatory approvals and permissions.

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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