DLF planning to sell non core asset to reduce Debt burden
DLF considered as the largest real estate builder in India, is struggling with debt amounting more than Rs.22 crore.
The sales and the net profit has also reduced in last two years, resulting the high debt amount in the real estate property market.
DLF is aiming to raise funds by dis-investing its non core assets. The company set a target to raise Rs.6000 crore to Rs.7000 crore in the next one year.
According to an analyst, the huge debt arose after the payment of the penalty of Rs.630 Crore against the order by Competition Commission of India (CCI).
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Source : Business Standatd
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