DLF and Oberoi Realty report decline in net profit in Q2 due to slow property market and high interest rates. Both companies sold assets to reduce debt.
DLF shares increased by 3.2% after Goldman Sachs upgraded the stock's rating to "buy", citing increased residential launches and commercial property recovery.
DLF aims to raise Rs 300-500 crore by selling its stake in a joint venture with Akruti City for a commercial project in Andheri, part of a larger debt reduction strategy.
Unitech seeks to restructure Rs 800-crore loan from public sector banks, amid debt burden of Rs 2,500 crore due by March '09
Unitech Ltd seeks to raise up to Rs 5,000 crore through securities issuance, alongside increasing share capital to Rs 1,000 crore amid an ongoing debt reduction strategy.
Unitech to raise ₹2,500 cr by Jan via asset sales, PE funds & debt transfer to mitigate ₹8,200 cr debt