DLF, India’s biggest listed property firm, is seeking to cut its debt by $547 million to $656 million in the current year to March, Business Standard reports. The company plans to cut debt via divestment of non-core assets.
The company’s net debt reached $4.721 billion in the first quarter of the fiscal year 2012, from $4.699 billion as on March 31, 2011. DLF will offload its stake in the hotel chain Aman Resorts by the end of this fiscal year. Goldman Sachs and Citi are advisers to the transaction.
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