The company aims to cut debt through the divestment of non-core assets, including hotels and plots of land that cannot be developed in the next five years.
DLF, which has been trying to bring down its debt for some time, reported an increase of Rs 100 crore (Rs 1 billion) in net debt in the first quarter of financial year 2012.
Net debt touched Rs 21,524 crore (Rs 215.24 billion) in the first quarter of FY12, from Rs 21,424 crore (Rs 214.24 billion) as on March 31, 2011.
While the group has a divestment target of Rs 6,000-7,000 crore (Rs 60-70 billion) over two to three years from sale of non-core assets, it had raised only Rs 165 crore (Rs 1.65 billion) by June 30.
In a presentation to analysts after the first quarter 2011-2012 results, DLF had said visibility in non-core divestment was expected by the end of the second quarter (September 30).
DLF would offload its stake in the hotel chain Aman Resorts, while keeping the Aman Hotel in Delhi with itself.
Apart from Aman Hotel, earlier Lodhi Hotel, the chain has two other hospitality properties in India -- Aman-i-Khas and Amanbagh --
Aarushi murder: Talwars get SC reprieve
Secrets M F Husain shared with the DLF chief
BCCI blasted for India's poor show in England
Force India's Adrian Sutil faces legal charges
Son-rise at DLF; from daughter side