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DLF says Europe crisis stalling sale

1 min reading time

Published on 14/02/12 - Updated on 17/03/22

DLF blamed Europe’s sovereign debt crisis for stalling the sale of Amanresorts International Pte Ltd.

The Economic Times reports that India's largest real estate developer, DLF Ltd, said it is banking on the sale of Aman Resorts and wind energy venture to significantly reduce its Rs 22,758 crore debt.The Economic Times continues to report that DLF aims to raise Rs 6,000 to Rs 7,000 crore from the sales of its non-core assets. "We believe that Rs 12,000 crore of the debt is self-financing, linked to our annuity assets. This does not worry us. It's the rest of the debt that is a worry, but if three to four large asset sales happen over the next two quarters, a chunk of the debt can be reduced," said Ashok Tyagi, group chief finance officer at DLF

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