India's biggest property developer, DLF has 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.

DLF sold its wind turbine project in Gujarat with an expected capacity of 150MWunder a deal valued at Rs 282.30 crore to Bharat Light and Power. The property developer currently has wind power generation plants in four states across the country with a combined installed capacity of 227 MW. The company has projects in Rajasthan (34MW), Tamil Nadu (33MW) and Karnataka (11MW), all of which are expected to be sold in the next phase.

"The company has entered into definitive business transfer agreement with BLP Vayu (Project 1), a subsidiary of Bharat Light & Power, for transferring of its undertaking comprising of 150MW capacity wind turbines situated at Kutch, Gujarat on 'as is where is basis¿ by way of slump-sale for a lump sum consideration of Rs 282.30 crore," DLF said.

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 made a profit of Rs 2,000 crore over seven years through the sale of land, which is located at Lower Parel in Mumbai in the country's financial capital. Meanwhile, DLF Global Hospitality Ltd signed an agreement under which Adrian Zechais to acquire DGHL's 100 per cent shareholding in Silverlink Resorts Ltd, which runs Amanresorts.