{"id":22168,"date":"2013-08-05T11:19:25","date_gmt":"2013-08-05T05:49:25","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=22168"},"modified":"2020-06-15T03:49:52","modified_gmt":"2020-06-14T22:19:52","slug":"22168-dlf-targets-to-cut-debt-by-rs-4000-crore-by-this-fiscal-year","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/22168-dlf-targets-to-cut-debt-by-rs-4000-crore-by-this-fiscal-year\/","title":{"rendered":"DLF Targets to Cut Debt by Rs. 4,000 Crore by this Fiscal Year"},"content":{"rendered":"

\"DLF-debt\"DLF, the largest real estate company in India<\/a> is intending to cut debt by Rs. 4,000 Crore within this fiscal year. Even though the company is unable to close the deal to sell Amanresorts which is a luxury hotel chain, the company still targets to cut the debt.Due to the inability, the market is raising question whether the company would be able to accomplish its target by this financial year. At the start of this fiscal the company\u2019s net debt was Rs. 21,731 crore and it aims to reduce its net debt to Rs. 17,121 crore by March, 2014.According to the sources, DLF has the potential to achieve its set target as the company has already raised Rs. 1,860 crore by selling its shares through IPP, this May. The company also expects to earn over Rs. 2,200 crore through the sale of other non-core business assets except Amanresorts. The company has previously signed agreement with respect to this sale. The company is also expected to gather fund by selling wind energy projects and its 74% stake in life insurance. Apart from these, DLF would also mop up from sale of land in Noida<\/a> and Hyderabad.The sources further said that the company would be selling Amanresorts by end of this September. If the sale takes place, the company would be able to decrease its debt by Rs. 16,000 crore. The company is in talks with some potential buyers including global private equity fund to sale this property. The fall in the Rupee value would benefit the company by the closure of USD 300 million deal of Amanresorts sale. In December, when the deal was announced the value of dollar was Rs. 55 now it has increased to about Rs. 60. Hence if the company is able to sell the property in this dollar tem then it can gain almost Rs. 150 crore by this deal.The executive Director Finance of DLF said they are fully committed and would strive to achieve the target by financial year of 2013-2014.\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DLF, the largest real estate company in India is intending to cut debt by Rs. 4,000 Crore within this fiscal year. Even though the company is unable to close the deal to sell Amanresorts which is a luxury hotel chain, the company still targets to cut the debt.Due to the inability, the market is raising […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-22168","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"\nDLF Targets to Cut Debt by Rs. 4,000 Crore by this Fiscal Year -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/22168-dlf-targets-to-cut-debt-by-rs-4000-crore-by-this-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DLF Targets to Cut Debt by Rs. 4,000 Crore by this Fiscal Year -\" \/>\n<meta property=\"og:description\" content=\"DLF, the largest real estate company in India is intending to cut debt by Rs. 4,000 Crore within this fiscal year. 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