Indian Real Estate major, DLF Ltd, plans to raise 100 billion rupees ($2 billion) over the period of next 3 years from asset sales as the cash-strapped builder strives to cut its debt.
“This includes the 55 billion rupees we have talked about and in the coming three years we will be raising 45 billion rupees more,” Sanjey Roy, a senior general manager, said on Thursday.
DLF had announced earlier this month that it had net debt of 139.58 billion rupees at the end of March.
It planned to repay 75 billion rupees by selling non-core assets such as its wind power unit and from part collection of the money owed to it by a property trust, DLF Assets Ltd.
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