DLF LOOKING TO BUY INTO DISTRESSED SALES

DLF vice chairman Rajiv Singh says the company would try and fill the gap in its portfolio by acquiring suitable assets which come up for distress sale in a depressed real estate market. "We will be prepared to look at opportunities but won't pick up something just because it's cheap. However, there are some gaps in our portfolio, which we would like to fill. If there are some significant assets which are hard to replace in a market like NCR or Mumbai, we will certainly look at it, "said Mr. Singh. He said a challenging external environment had forced his company not to move "at a pace we would have like to" and asked the government to bring down interest rate for home buyer as well as developers.
Courtesy: - ET dtd: - 14th Nov. 2008