DLF to raise Rs 700 crore via 400 plots sale in Gurgaon

DLF , the country's largest realtor by market capitalisation, has planned to raise Rs 700 crore from the launch of 400 plots in Gurgaon, reports CNBC-TV18 quoting sources. In line with its new growth strategy, which says 'selling plots entails high margins, save on construction costs', this development will be the second largest move for the company since October 2010.

In a bid to generate faster cash flows, it is learnt that realty major had projected to launch 400 plots at Rs 40,000 per square yard over the next few days. Moreover, the plot sizes will vary in the range of 200-500 square yards in its 100 acre township called 'DLF Garden City'.

Last month, DLF had said it would launch 12 million sq ft of area this fiscal, of which 10 million sq ft will be plotted development, while the rest will be group housing projects. "Product mix skewed towards plotted development in order to reduce execution risks and negate inflationary pressures," DLF had said in a presentation.

source: http://www.moneycontrol.com/news/business/dlf-to-raise-rs-700-crore-via-400-plots-salegurgaon_561251.html