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BSE   23 May 12 | 12:00 AM

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Code: DLF
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DLF in talks to sell wind power biz, assets

Reuters / Mumbai 19 Jan 12 | 09:03 AM

DLF, India's largest listed developer, is in talks to sell Rs 1,800 crore worth of non-core assets in the fiscal year that begins in April, a business daily 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 Rs 800 crore, an unnamed senior DLF executive was quoted as saying.

The executive also said DLF had started negotiations with investors to raise Rs 1,000 crore through the sale of its wind power business.

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

DLF had a net debt of Rs 22,519 crore at the end of September, and the company has sought to raise as much as $650 million by selling non-core assets to pare its debt pile.

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