DLF may put up to 50 acres for block sale: Sources

Real estate major DLF is likely to put up as much as 50 acres of its land on the block for sale, reports CNBC-TV18, quoting sources.

According to sources, most of these land parcels had been planned for hospitality ventures.

CNBC-TV18's Priyanka Ghosh dwells deep into the details to know as to how much is the company expecting to rise through this asset sale and have there been any confirmations from the management on the same.

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Here is a verbatim transcript of Priyanka Ghosh's comments on CNBC-TV18. Also watch the accompanying video.

This is actually good news because DLF has been talking about asset sales and it is a good avenue to generate funds from and therefore its not really bad news.

We learn that DLF has put as much as 50 acres of land and plots across the country. We understand from our consulting sources that some of these locations where DLF is looking to sell is 1.8 acres in Mumbai, 2 acres in Bangalore, 2.5 acres in Bhubaneswar, 6 acres across two projects in Gurgaon, and similarly several plots across Bengal, Lucknow, Jalandhar, Ludhiana etc.

When we contacted the company for an official comment on the matter, DLF said that the information is speculative and didn't confirm the details. However, we understand from internal sources in DLF that the company is expecting to rise about Rs 1,000 crore from the sale.

Most of these; 50 acres have been acquired by DLF for its hospitality ventures, most of these having been acquired through state government auctions.
We also understand that DLF has certain joint ventures, for example the Mumbai plot with Akruti City . In fact, certain market sources say that the sale of Mumbai plot could actually fetch DLF as much as Rs 400 crore and that's actually good news on the condition that DLF finds a buyer, who is willing to put that kind of a money in this market.

CNBC-TV18 Disclaimer: This information has not been provided to the stock exchanges, and is source-based.