new delhi realty giant dlf today said it is targeting rs 6500 crore of sales in the housing segment this fiscal up by 23 per cent from fy 2012 and expects to sell three bigticket noncore assets in the next few months in an analyst presentation dlf the countrys largest realty firm said that it expects to raise up to rs 4000 crore from sale of noncore assets in the next six months it is looking to sell its luxury hotel business amanresorts wind energy and a prime land in mumbai we expect to sell 12 million sq ft for rs 6500 crore in 201213 fiscal as against about rs 5200 crore in the last fiscal dlf group chief financial officer ashok tyagi said of the expected sales bookings the company is targeting rs 1500 crore from a luxury project magnolia at gurgaon that would be launched in the second half of this fiscal on noncore assets divestment dlf executive director finance saurav chawla said we are close to the closure of these noncore assets sale in next few months we will be able to announce it the company expects to sign definitive agreement with potential buyers in the first half of this fiscal chawla said adding that funds might be received in the second half dlf has raised about rs 1774 crore in last fiscal through divestments of noncore assets including plots and it parks the divestments proceeds has reached rs 4844 crore till date potential value for further divestments in the next 6 months stands at rs 30004000 crore dlf said in a presentation the total target of divestment of noncore assets of rs 10000 crore would be achieved in the medium term it added according to the presentation dlf has been able to reduce its whopping debt by only rs 33 crore in the fourth quarter of last fiscal to rs 22725 crore it plans to reduce debt through strengthening of operational cash flows enhance momentum on noncore divestments along with a moderation in land aggregation and capex on debt tyagi said borrowings to the tune of rs 3900 crore is due this fiscal and clarified that the bulk of funds raised from noncore assets sale would be used to retire debt the cfo also divulged that about rs 1800 crore of debts are related to amanresorts and wind energy businesses as part of business strategy in fy 2013 dlf wants to conserve cash with moderate capex and land acquisition and protect margins through cost escalation clauses it would focus on high margin projects luxuryplotted moderate volumes in midincome segment and also concentrate on fresh launches with the improvement in the approval cycle