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DLF in talks to sell wind power business, assets

DLF, India's largest listed developer, is in talks to sell 18 billion rupees worth of non-core assets in the fiscal year that begins in April, the Economic Times reported on Thursday, as the company looks to pare debt.



Mumbai: DLF, India's largest listed developer, is in talks to sell 18 billion rupees worth of non-core assets in the fiscal year that begins in April, a news paper reported on Thursday, as the company looks to pare debt.

DLF is close to finalise a joint venture agreement with an unnamed Japanese company for the Indian developer's convention centre project in New Delhi in a deal worth 8 billion rupees, an unnamed senior DLF executive was quoted as saying.

The executive also said DLF had started negotiations with investors to raise 10 billion rupees through the sale of its wind power business.

A DLF spokesman declined to comment on the report when contacted.

DLF had a net debt of 225.19 billion rupees at the end of September, and the company has sought to raise as much as USD 650 million by selling non-core assets to pare its debt pile.

Bureau Report

From Zee News

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