DLF coming up with luxury projects
After the controversies, few projects and sluggish growth, the country’s largest real estate company, DLF, is now is looking forward for the new launches during 2013-2014.
The company is planning pan-India residential projects, office and retail launches and the total development will be of 12-16 million sq ft in the coming year.
After concluding the deal to sell Aman Resorts and Mumbai NTC Mill land, DLF has decided to sell its wind energy business. The company said it will bring down its debt from Rs 23,220 crore to Rs 18,000 crore by the end of March.
To clear its debt, the company might offload few more non core assets in the form of unused plots across the NCR and other parts of the country and few hotels also.
The realtor is eying a 20 percent increase in rental and leasing price for the office and retails spaces, so that it can gain Rs 3000 crore by the end of 2015 from Rs 2000 crore currently. DLF is coming back with a luxury mall project, Emporio in Delhi where Chanakya cinema was situated earlier. There will be three theater with a total of 1000 seats.
The mall will have shopping complexes, restaurants and entertainment complexes. This is a similar to a project which they set up in Gurgaon. Apart from retail and commercial projects, the company is also looking at investing in residential projects which will be a combination of mid level and premium projects of Rs 1.2 crore and above in the next financial year.
DLF has almost closed the deal to sell its wind energy business with Bharat Light and Power for an estimated amount of Rs 900 crore.
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DLF to repay its debt by selling wind energy business
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