After raising Rs2,000 crore by selling stakes in two projects, India's largest realtor DlF is planning to monetise some more housing projects through private equity as property sales continue to remain subdued.
DlF had, in September, sold about 50 per cent stake each in two upcoming projects in the national capital to Singapore's sovereign wealth fund GIC for Rs1,990 crore.
The company has identified few more projects in Gurgaon and other cities for divestment. The company is looking at monetising select residential projects through private equity till the real estate market improves, sources said, adding that the proposed deals would be smaller in ticket-size compared with GIC transaction.
With sluggish property market in last 2-3 years, DlF had announced in February this year that it would raise over Rs3,000 crore through divestment or joint ventures in certain projects to improve cash flow and reduce debt.