DLF, India's leading real estate company, on Thursday announced the launch of a new luxury housing project 'Sky Court' in Gurgaon with a sales realisation of around Rs 900 crore.

The reality giant said it would develop a total of 674 apartments in the Gurgaon-based 13-acre project, with price of apartments ranging from Rs 1.14 crore to Rs 1.53 crore.

A spokesperson for the company claimed that the new project had received over 700 applications and had been wholly sold.

Speaking on the topic, the spokesperson added, "The Company is now well positioned to take-off as it moves towards new launches in excess of 9 million sq ft during the second half of FY'13... Given previous successes, focus on plotted launches is to continue."

A day earlier, DLF announced tha sale of its luxury hotel chain Aman Resorts to its Indonesian founder Adrian Zecha for Rs 1,600 crore ($300 million). The reality giant is selling its non-core businesses in order to focus on its core business. Aman Resorts business was founded by Zecha in 1988. DLF had purchased it in

2007 for an enterprise value of $250 million.

Proceeds from the sale will be used to cut the company's debt. The company aims to slash its debt pile to Rs 18,000 crore by March 31 - the end of current financial year. Earlier, the company slashed its net debt from Rs 23,220 crore to Rs 21,220 crore by using proceeds of Rs 2,727 crore from the sale of NTC Mill land to return loans.