DLF TO DIVEST IT’S NON-CORE
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(1 votes, average: 5.00 out of 5) Loading ...By divya
Published: June 12, 2009
DLF TO DIVEST IT’S NON-CORE BUSINESS
Kushal Pal Singh and Rajiv Singh along with their family members , the promoters of DLF Ltd., which is the Largest Indian player in th Real Estate Business has planned to divest it’s non-core businesses as they are facing a net debt of Rs. 13k crores. So it is trying get the most by selling it’s non-core business such as it’s Windmill power generation business so as to raise money to cover the debt.
DLF had planned to divest it’s non-core assets worth Rs.5,500 crores so that it’s main business are still up running smoothly. The windmill power generation business alone is expected to yield upto Rs.1,200 crores. DLF will face a clean loss as the investment for the windmill power business itself came upto Rs.1,500 crores and is now expected to sell off for Rs.900 crores or maximum of Rs.1,100 Crores.
DLF Ltd., is taking the help of Ernst and Young, an audit and consulting firm in selling off the windmill power generation business. CLP Power India Ltd is planning to take over DLF’s windmill business which had been installed for a capacity of 260 Mw.
Tagged with: Divest, Divest Non-core, DLF Ltd, Kushal Pal Singh, Real Estate, Sell Off, Windmill Power Business
