DLF announces sale of Aman Resorts
A recent announcement made by the real estate developer, DLF stated that they are expecting to sell of their luxury hotel chain; Aman Resorts along with the sale of its wind power business in few months.
These transactions will help the firm to achieve the net debt level of about 18,000 crore by the end of March next year.
DLF expects that the sale of Aman resorts will fetch them about 1,700-2,000 crore and the sale of wind power will fetch them about 800-1,000 crore.
An increase in the net debt was witnessed in the July-September quarter by about 540 crore and a total of 23,200 crore wherein Lodha Developers made the final tranche of money for the NTC mill transaction.
However, DLF has reduced its debt by about 2,000 crore to 21,220 crore. Nevertheless, in order to improve its financials, the company is planning the launch of ‘high impact projects’. The lack of new sales has been haunting the company sales.
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