DLF to sell its Mumbai land for Rs 2,800 cr
DLF plans to sell its 17.5 acre in Mumbai’s Lower Parel to Lodha Group and a private equity player for about Rs 2,800 crore. The deal will help the Delhi-based builder pare part of its burgeoning debt that had reached Rs 22,725 crore by March 31, 2012. The buyers have paid an advance, and the final terms of the deal are currently being worked out. DLF will get the entire Rs 2,700-2,800 crore in one go within two months.
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