DLF Assets to tap capital market in two years

Mumbai, July 5 (UNI) DLF Assets Private Limited (DAPL), a fully owned promoter company of Delhi-based real estate giant DLF Limited, will be listed in 18 to 24 months, group CEO Ramesh Sanka told reporters today.

Speaking on the sidelines of DLF's listing, Mr Sanka said the group will raise an additional capital of USD 1 billion in next six months to fund its future expansions.

DLF had recently received investments worth USD 600 million from Lehman Brothers (USD 200 million) and DE Shaw (USD 400 million) which was infused to DAPL.

Apart from DAPL, DLF'S other associates DLF Laing O'Rourke, Insurance joint venture DLF Pramerica, DLF Nakheel and DLF WSP are also planning to enter capital market in next five years, said Mr Sanka.

''The listing of these companies will be done in next five years in order to pave way for company's future growth.'', Mr Sanka informed.

UK based infrastructure firm Laing O'Rourke, a joint venture bidders of DLF, were strategic partners in many overseas projects that comprised Dubai International Airport, Millennium Tower and the T-5 Airport Terminal in UK.

The company entered into the Insurance business by floating a joint venture with US based financial company Prudential Financial Inc in India.

UNI