Debt reduction to continue, FY14 to be better: DLF

Emboldened by the government reform measures, country's largest developer, DLF sees an improvement in business in 2013-14. According to Rajeev Talwar, group executive director of the company, the number of enquiries by customers has increased on the back of policy actions. Occupancy levels are likely to increase in next six months, he told CNBC TV18 in an exclusive interview.

Meanwhile, the real estate major is pursuing the Amanresorts stake sale, the proceeds of which is expected to bring down its debt to an extent. The management hopes to meet debt reduction projections. The company's debt reportedly stood around Rs 22,680 crore as on June 30.

"This policy initiative has helped to generate more enquiries now. There is a greater traction in retail space in Noida, Gurgaon, Delhi and other cities. This reform has a very positive impact and we hope that any political uncertainty would be settled in times to come and therefore the next step towards linking rural producer and the urban consumer would be cemented and get formalized," said Talwar

DLF shares climbed more than 16% in the last one year as against as against a rise of 8% of the benchmark BSE Realty index. According to media reports, the realty company has been in talks to sell luxury hospitality business Amanresorts for around Rs 1,900 crore. DLF is currently holding 100% ownership in the hospitality chain that has about 25 resorts across the world.

Recently, DLF sold 17 acres of prime land in Mumbai to Lodha Developers for Rs 2,700 crore as part of the company's strategy to exit from non-core business.