India's biggest property developer, DLF has said that it is aiming to reduce tis total debt by half in the coming three years with the help of measures like fresh issue of equity shares, sale of non-core assets and higher cash flows.

DLF has indicated that it is planning to reduce its debt from the current Rs. 21,350 crore to Rs. 10000-11000 crore over a period of next three years. The management of the company also said that it is planning to dilute 3 per cent stake to raise cash flows of 5000 crore. The company will issue fresh equity shares to dilute its stake and meet the SEBI guidelines of minimum 25 per cent public shareholding.

DLF has been selling major assets to strengthen its financial position and consolidate its position in the core infrastructure sector. The company had sold a 17-acre land in Mumbai to Lodha Developers for Rs 2,727 crore in August and Amanresorts back to founder Adrian Zecha for about Rs 1,650 crore.

The company also sold a wind project located in the state of Gujarat to Bharat Light and Power as part of the company's strategy to exit non-core business segments.