Shares of DLF jumped nearly 4%, touching the weekly high of Rs191.50, after the company sold 28 acres of prime land in Gurgaon to real estate firm M3M for Rs440 crore.
DLF, India’s largest developer has been selling its non-core assets such as hotel plots for the past couple of years to cut debt that stood at Rs22,519 crore at the end of the September quarter.
It had raised Rs3,480 crore from sale of non-core assets till the second quarter of this fiscal. The plan is to raise a total of Rs10,000 crore from this process, as per the reports.
On December 28, 2011, the company said that, it is firmly committed to its target of raising Rs6000-7000 crore from divestment of non-strategic assets over 3 years, starting from 2011-12 to help prune debt.....more info
DLF, India’s largest developer has been selling its non-core assets such as hotel plots for the past couple of years to cut debt that stood at Rs22,519 crore at the end of the September quarter.
It had raised Rs3,480 crore from sale of non-core assets till the second quarter of this fiscal. The plan is to raise a total of Rs10,000 crore from this process, as per the reports.
On December 28, 2011, the company said that, it is firmly committed to its target of raising Rs6000-7000 crore from divestment of non-strategic assets over 3 years, starting from 2011-12 to help prune debt.....more info