DLF is actively seeking to raise between Rs 300 and Rs 500 crore by divesting its stake in a joint venture with Mumbai-based realtor Akruti City, focusing on a commercial project located in Andheri.
Notably, DLF has made the decision to cancel a previously planned five-star hotel project in Prabhadevi, Mumbai, where it held the majority stake. The company's strategy involves the monetization of non-core assets in order to generate funds over the next year to manage its debts.
Currently, DLF is grappling with a significant net debt of Rs 13,958 crore, out of which Rs 3,591 crore is due for repayment during this fiscal year. In addition to this venture, the developer has also placed its wind power business up for sale, anticipating revenues of approximately Rs 900 crore.
In its efforts to improve its financial standing, DLF has stated its objective to halve its outstanding debt in the current financial year, aiming to accumulate about Rs 5,500 crore through the sale of assets, plots, and ongoing business cash flow.