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DLF to sell NTC land
DLF, which recently sold 28 acres of land in Gurgaon for `440cr, is further selling its
assets to reduce its debt, which stood at `21,524cr at the end of 1QFY2012. The company
is expected to sell its 17.5 acres in NTC mill land in central Mumbai, which is estimated to
be around `3,000cr–`4,000cr and could be one of the biggest land deals in the country.
The company is also seeking approval from the Board of Approvals for SEZs to sell the
shares of its IT SEZ in Pune.
DLF, which has a 70% stake in the SEZ, is in talks with PE players to sell the land, which is
estimated to be around `900cr. If these deals go through, the company could significantly
reduce its mounting debt, which has been one of the major concerns for the company. We
continue to remain Neutral on the stock and will wait for further clarification on the deals.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
DLF to sell NTC land
DLF, which recently sold 28 acres of land in Gurgaon for `440cr, is further selling its
assets to reduce its debt, which stood at `21,524cr at the end of 1QFY2012. The company
is expected to sell its 17.5 acres in NTC mill land in central Mumbai, which is estimated to
be around `3,000cr–`4,000cr and could be one of the biggest land deals in the country.
The company is also seeking approval from the Board of Approvals for SEZs to sell the
shares of its IT SEZ in Pune.
DLF, which has a 70% stake in the SEZ, is in talks with PE players to sell the land, which is
estimated to be around `900cr. If these deals go through, the company could significantly
reduce its mounting debt, which has been one of the major concerns for the company. We
continue to remain Neutral on the stock and will wait for further clarification on the deals.
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