DLF to launch new projects in 2013-14

DLF to launch new projects in 2013-14

Realty developer DLF will shift focus to its core housing and commercial ventures and plans to launch up to 15 million square feet of new projects next fiscal.

The company recently sold its two major non-core assets — luxury hospitality chain Amanresorts and a prime Mumbai land — for nearly Rs 4,400 crore. It is in the process of finalising sale of wind energy venture for about Rs 850 crore.

“We have successfully completed sale of non-core assets Amanresorts and Mumbai land. Sale of wind energy will also be finalised soon. This will help us in bringing down the debt to Rs 18,500 crore by March,” DLF Group Executive Director Rajeev Talwar said.

Since the last couple of years, DLF has been selling its non-core assets to reduce debt that stood at Rs 21,220 crore by middle of November 2012.

Talwar said the company will launch more projects next fiscal in Delhi-NCR, Bangalore and other parts of the country. “We will be delivering about 15,000 flats in the next 12-18 months,”  he said.