India's largest real estate firm DLFBSE 1.36 % plans to reduce its debt from Rs 22,700 crore to Rs 18,000 crore by March, according to a top executive.
Chief financial officer Ashok Tyagi said the company will bring down the debt further to Rs 13,000 crore by selling non-core assets as well as stake in the company.
The builder, which closed a Rs 2,725-crore land deal on Thursday with Mumbai-based Lodha Developers, hopes to sell Aman Resorts and its wind power assets by the end of the fiscal. The two transactions are expected to fetch the company Rs 2,500 crore, which would go towards reducing the debt, Tyagi said. "We are talking to multiple parties for these transactions though an announcement is still a few weeks away," he said.
Tyagi said these deals are taking time because of the complex nature of the properties. DLF expects to raise Rs 800-1,000 crore from the sale of its wind power assets while the sale of Aman Resorts is expected to fetch Rs 1,700-2,000 crore.
"A debt of 12,000-13,000 crore is sustainable for us. It can be managed with our rental revenues. We hope to get there in another two years through a mix of operating surpluses, disposal of some assets and capital action linked to Sebi guidelines," Tyagi said.
Source: Economic Times
Apartments, Flats and Property for Sale in New Delhi
Aug 01, 2015
Victorian Corporation is offering 2 bhk flat in Dwarka L Zone Delhi in its new residential project Victorian Privilege. The project is located in..
Jun 11, 2014
Antriksh Group launches a world class famous residential project of Antriksh Golf City noida. Types :Apartment, 2BHK, 3BHK Sizes :1050 - 1665 sq..
Apr 11, 2014
Well located apartment available for sale with all the modern amenities like power-backup, intercom, 24 hours security with CCTV surveillance,..
Mar 15, 2014
3 Bhk apartment for sale in rohini ........Please contact for more..
Mar 12, 2014
Available 1st and ground floor for sale at reasonable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,very near to main..
Feb 22, 2014
3 bhk apartment for sale in rohini delhi north.....please contact for more..
Feb 22, 2014
3 bhk apartment for sale is available in delhi north ..........please contact for more..
Feb 11, 2014
When you want to create a fresh perspective for your life, this is the best real estate option for you and your family. A self sufficient township..
Feb 10, 2014
Corner,200 yards (1800 sq Ft covered area),Freehold property,located in commercial road,in LAJPAT NAGAR-1, New Delhi.Three side balcony,3 Big Bed..
Dec 07, 2013
House is a building for human habitat on. It is one of the basic needs for many people, owning a home brings a sense of pride freedom that cannot..
Apartments, Flats and Property for Rent in New Delhi
Oct 10, 2016
Luxurious PG Accommodation for Studying and Working girls & Boys in Amity University Noida Sector 125. we have provided washing Machine,..
Jul 19, 2016
For Rent New Friends Colony, Newly Built Second Floor 3 Bedrooms attached bathrooms, Drawing-Dining, Modular Kitchen, Excellent Wood work, Car..
Jan 14, 2016
For Rent at New Friends Colony, Nicely Built Third Floor 3 Bedrooms Attached Bathrooms, Drawing, Dining, Modular Kitchen, Car Parking, Woodwork,..
Jan 14, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, S.Q. RENT..
Jan 06, 2016
FOR RENT DEFENCE COLONY NEWLY BUILT SECOND FLOOR 4 BEDROOMS ATTACHED BATHROOMS, DRAWING, DINING, MODULAR KITCHEN, CAR PARKING, LIFT, RENT..
Mar 12, 2014
Available 1st floor on rent in affordable price,2+1 with 1 attached toilet,white marble flooring,modular kitchen,nice location,very near to main..
Feb 25, 2014
Fully furnished 1 room with attached bathroom surrounding by green..
Jan 04, 2014
We offer our 3 BHK furnished apartment in defence colony. Apartment has three bedrooms with attached bathrooms. It has a modular kitchen which is..
Jun 05, 2013
1 ROOM SET, 1 BHK AND 2 BHK FULLY - FUNISHED are available for Rent in New Delhi at VASANT..