DLF’s net debt fell Rs 169 crore during the third quarter of this fiscal to Rs 22,758 crore and it expects to raise about Rs 6,000 crore by the end of next fiscal from the sale of non-core assets.

In an analyst presentation, DLF said the company “remains focused on target divestments of Rs 6,000-7,000 crore...Proceeds are to be utilised primarily for debt reduction’’.

The company is targeting about Rs 6,000 crore by March 2013 from the sale of non-core assets and said that three major deals are key to achieve this figure. In the medium-term, it expects to realise up to Rs 7,500 crore from such sales.

According to the presentation, the company expects Rs 2,000 crore from the sale of hospitality venture Amanresorts and another Rs 1,000 crore from the sale of wind energy business.

DLF expects to raise up to Rs 4,000 crore from the sale of strategic projects in Mumbai and Chennai and another Rs 1,000 crore by offloading other projects that it did not name.

In the presentation, the company informed that it has raised Rs 1,620 crore in the first nine months of the current fiscal against Rs 1,110 crore in the entire 2010-11.

DLF has decided to outsource construction activities to third parties to ensure timely completion of the projects.

“We will hand over 27-30 million sq ft in the next 2-3 years to third party contractors like L&T and Shapoorji,” DLF Executive Director (Finance), Mr Saurabh Chawla told analysts in a conference call yesterday.

DLF had reported 45 per cent fall in consolidated net profit at Rs 258 crore in the third quarter of this fiscal on account of lower than expected sales. It had posted Rs 466-crore PAT in the year-ago period. Consolidated revenue also fell 8 per cent to Rs 2,396 crore from Rs 2,594 crore in the year-ago period.