The company’s plan to sell off its non-core assets to reduce debt is on track and is likely to fetch Rs 4,500-5,000 crore in FY13. This includes the land sale in Mumbai, sale of Aman resorts and the wind business, the company said.
According to sources, DLF still expects proceeds of Rs 2,227 crore from Lodha Group for the Mumbai land sale by the end of the month.
It has said that the sale of Aman resorts which is likely to fetch over $300-325 million (Approximately Rs 1800 crore) is also on track and the sale is likely to close this quarter.
Regarding allegations of selling properties to Robert Vadra, DLF had issued a statement refuting allegations that it had given unsecured loans to Vadra as a ‘quid pro quo’ for favours and said it had transparent dealing with him as an individual entrepreneur.
The company had said it gave Rs 65 crore as “business advances” out of which Rs 15 crore was fully refunded and Rs 50 crore was used for purchase of land. It had also dismissed the charge that the company sold properties to Vadra and his companies at a throwaway price.
With inputs from PTI