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DLF on track to cut debt after Mumbai land sale
Aug 13, 2012
MUMBAI: DLF, India's biggest property developer, is closer to meeting its debt reduction target after it agreed to sell its plot of land in Mumbai for 27 billion rupees ($488 million) to Lodha Developers on Monday. Like other developers, DLF gorged on cheap finance during the 2007-08 property boom in Asia's third-largest economy to fund ambitious expansion plans for millions of square feet of

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