DLF closing in to sell off its non-core assets
DLF, the country’s biggest real estate developer, has been on the road to sell off its non-core assets for few months now.
On Tuesday the developers revealed that it expected to close sale of three non-core assets, which will cut its debt by about 5,000 crore, by the end of the current fiscal. The sell-off includes Aman Resorts, Mumbai mill land and wind power business and the deal is said to be in pre-close stage.
The developer’s debt stood at 22,680 crore at the end of June. While the company’s income for the previous quarter declined by 7 per cent, they are expected to launch the second phase of its high-end luxury project Magnolia in the second half of the fiscal.
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