DLF, the countrys largest realty firm, is selling its non-core assets to reduce debt, which stood at R22,519 crore as on September 30, 2011.
In a filing to the BSE, DLF said that the company along with its joint venture partner Hubtown have sold 100% of their respective shareholding in DLF Ackruti Info Parks (Pune) for an aggregate consideration of R810 crore to an entity controlled by realty fund affiliated with Blackstone Group, BRE/Mauritius Investments II.
DLF and Hubtown held 67% and 33% equity shares in DLF Ackruti SEZ, respectively.
The above transaction is in line with the DLFs objective of divesting its non-strategic assets, the filing added.
DLF has so far raised R3,480 crore from sale of non-core assets and is planning to raise about R7,000 crore in the next 2-3 years.