Jan 19 (Reuters) – DLF, India’s largest
listed developer, is in talks to sell 18 billion rupees ($357
million) 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.
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 by Reuters.
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 $650
million by selling non-core assets to pare its debt pile.
($1 = 50.3800 rupees)
(Reporting by Henry Foy in MUMBAI; Editing by Ranjit
Gangadharan)