Q:I heard DLF is selling land in Hyderabad. Is this true? Is there any particular reason behind this? Guys please discuss, is it smart to invest in another DLF project?
Latest Answer: Hey ive heard that they are selling it to the local builder My Home group. I think they are selling it off to reduce their outstanding debt of Rs 18,500 crores. The DLF group initially was in a debt of Rs 23,000 croroes till a few years back. Thank god that has gone down a lot. They are hoping to lower it down to Rs 17,500 crore by the end of this fiscal year. I think they started selling all their non-core assets from last years.
