The consolidated net profit of real estate developer DLF has fallen 62.81 per cent in the quarter ended September 30 to Rs 138.51 crore from Rs 372.41 crore in the corresponding period last year.

Its consolidated sales during the second quarter stood at Rs 2,039.54 crore, down 19.46 per cent, from Rs 2,532.41 crore in the year-ago period, it added.

DLF is also looking to retire its debts by selling its non-core assets, including NTC mills and Aman resorts. The company has debt of Rs 22,700 crore as on November 2012.

In the second quarter, DLF sold the 17.5 acre land parcel to Lodha for Rs 2,725 crore and received an initial tranche of Rs 500 crore.

(This article was published on November 12, 2012)
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