| DLF on Monday confirmed it had decided to sell its | | | | following the consolidation of liabilities of DLF Asset Ltd. |
| stake in ultra-luxury hotel group Aman Resorts as part | | | | DLF bought its 97% stake in Aman in 2007 for $400 |
| of its planned exit from the hospitality business, but a | | | | million. It is hoping to raise Rs 2,000 crore from the sale, |
| sale would exclude Aman's New Delhi property. | | | | which is being managed by Goldman Sachs. Aman's |
| THEcountry's top real estate company DLF confirmed | | | | founder Adrian Zecha owns the remaining 3% stake. |
| on Monday it had decided to sell its stake in ultra-luxury | | | | DLF did not say why it planned to retain the Aman |
| hotel group Aman Resorts as part of its planned exit | | | | Lodhi and what it would do with it after the sale, but its |
| from the hospitality business, but a sale would exclude | | | | exclusion is unlikely to matter much to potential buyers, |
| Aman's New Delhi property. | | | | most of whom would be mainly attracted by its resort |
| DLF CFO Ashok Tyagi told analysts that that the | | | | properties. The Aman Lodhi is the group's first and only |
| company was looking at potential investors for Aman, | | | | city property. DLF has also dropped its plan to sell the |
| which has 23 hotels across 12 countries patronised by | | | | wind energy business. The group has plans to cut its |
| the super-rich. This portfolio includes the Aman Lodhi, a | | | | debt by Rs 5,000 crore, more than half of which — |
| 68-room hotel which was commissioned in 2009. DLF | | | | Rs 2,700 crore – will be from the sale of non-core |
| hopes the sale of its 97% stake in Aman will help it | | | | assets and refunds from various government |
| pay down debt, which now stands at Rs 14,821 crore | | | | authorities in the next 12-18 months. |