DLF has raised around Rs 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks and is on course to close more such deals worth another Rs 500 crore in the coming weeks, two company executives said.
This is in line with the country’s largest real estate developer’s objective of raising Rs 5,500 crore through asset sale and use these funds to halve its Rs 14,000 crore debt by the end of this fiscal.
DLF has sold off land parcels in Mumbai, Baroda, Gangtok and NCR. The plots in Prabhadevi, Mumbai and Baroda were not marked for any specific purpose, as the company hadn’t paid government fees and obtained licences for any specific use. DLF has sold a hotel project in Delhi and another in Gangtok.
Times of India