India’s giant realty firm DLF has completed the sale process of its 33-MW wind turbines project in Rajasthan to Violet Green Power for Rs 67.44 crore. In early April, DLF announced that its arm DLF Home Developers Ltd (DHDL) had signed a definitive business transfer agreement with Violet Power Green Pvt Ltd to sell the 33MW wind turbines at Rajasthan for Rs 52.20 crore. In a filing to the BSE, DLF said DHDL
has transferred the wind turbines at Rajasthan “including related assets and liabilities along with relevant long-term loans on ‘as is where is basis’ by way of a slump-sale upon receipt of a lump sum consideration of Rs 67.44 crore”.
DLF has been selling its non-core businesses and assets since the last three years to focus on its core real estate business and cut its huge debt that stood at Rs 20,369 crore as on June 30, 2013. It has sold wind energy assets, its insurance business and non-strategic land parcels, including many hotel plots and raised about Rs 10,000 crore through this process.