As per reports available today from Edelweiss, DLF’s sale of IT SEZ jointly owned has been sold to Blackstone for 8.1 billion rupees ($153 million) is in line with the realtor's guidance. This sale will have no material impact on its stocks. DLF had said it expected to close Noida or Pune deals in the third quarter. The sale by DLF is a positive trend adopted by the realtor to reduce the mounting debts. The realtor also proposes to sell its prestigious luxury hotel chain Aman Resorts.

In an announcement on Wednesday DLF has said that "the company along with its joint venture partner Hubtown Limited, have sold 100% of their respective shareholding in DLF Ackruti Info Parks (Pune) Limited, for an aggregate consideration of Rs 810 Cr to an entity controlled by real estate fund affiliated with The Blackstone Group, BRE/Mauritius Investments II, after obtaining all necessary approvals."

The 1946-founded DLF, which had debt of Rs 22,519 Cr at the end of September, plans to bring it down to Rs 19,000 Cr by the end of this financial year, and to Rs 10,000 Cr by FY13 -- through sale of non-core assets. Going aggressive on cutting debt, the country’s largest developer by market capitalization finalized two deals this month.