DLF to raise up to $510 mln from PE investment

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DLF to raise up to $510 mln from PE investment

This article was posted on Feb 2, 2009 and is filed under Stock News

NEW DELHI (Reuters) – DLF Ltd, India’s top listed real estate firm, hopes to raise 20-25 billion rupees ($408-510 million) from private equity investment in its property trust in the March quarter, its vice-chairman said on Monday.

Rajiv Singh said property prices could fall by up to 15 percent in the next three months.

New Delhi-based DLF reported on Saturday a 69-percent slump in quarterly profit to 6.71 billion rupees ($137 million), while revenue fell 59 percent.

source: reuters

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