Won't raise funds; focus remains on core biz: Dewan Housing

Written By Unknown on Jumat, 26 Juli 2013 | 12.44

Jul 26, 2013, 10.27 AM IST

CMD Kapil Wadhawan shared no financial details of the DLF deal, but expects it to be value accretive.

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Won't raise funds; focus remains on core biz: Dewan Housing

CMD Kapil Wadhawan shared no financial details of the DLF deal, but expects it to be value accretive.

Like this story, share it with millions of investors on M3

Won't raise funds; focus remains on core biz: Dewan Housing

CMD Kapil Wadhawan shared no financial details of the DLF deal, but expects it to be value accretive.

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Dewan Housing Finance Corp , which is looking to buy 74 percent stake in DLF 's life insurance joint venture with US-based Prudential International Insurance Holdings has no plans to raise funds from the market now.

Though CMD Kapil Wadhawan shared no financial details of this deal, he told CNBC-TV18 that the company has already asked for regulatory approval for this deal. "We have been scouting for a right partner and we expect this deal to be value accretive," he added.

Property developer DLF has agreed to sell its 74 percent stake in its life insurance joint venture as a part of its strategy to divest "non-core" assets to pare debt.

He further added that the company will continue to focus on its core business of home loan and housing finance.


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