new delhi realty major dlf ltd will invest about rs 3000 crore this fiscal on construction of various projects and is targeting sales booking of more than rs 6000 crore we will invest about rs 3000 crore on construction of various projects this year we are looking at sales booking of 810 million sq ft msf worth rs 6000 crore in 201314 dlf group chief financial officer ashok tyagi told pti last year the company did sales booking of 723 msf worth rs 3900 crore he said tyagi said that higher sales realisation will come from existing projects like crest in gurgoan phase5 and new projects in lucknow uttar pradesh panchkula haryana in north india and chennai in south india among others dlf ltd the countrys largest listed developer said it aims to bring down net debt to rs 19000 crore by june and reduce it further to rs 17000 crore by end of this fiscal we are aiming to reduce our debt to rs 19000 crore by june with help of funds raised from the recently concluded institutional placement programme ipp tyagi said dlf has raised rs 1863 crore through the issue of over 81 crore fresh shares to institutional investors enabling it to dilute promoters stake to 75 per cent in line with market regulator sebis minimum public shareholding norms the company said it will focus on bringing down the debt level by 50 per cent in the next three years and see freecash flow remains positive by 201415 fiscal its net debt as on march 31 2013 was rs 21731 crore and average cost of debt has reached 128 per cent it said on the progress made in sale of its hospitality venture amanresorts to reduce its debt level tyagi said we hope that the deal will be concluded by june in december 2012 dlf had signed an agreement for effecting sale of amanresorts to the hospitality propertys founder and chairman adrian zecha for over rs 1600 crore the deadline for the closure of the deal was february but it has been extended to june this year we will speak to them adrian zecha and find out if they have arranged funds if they are in the process we could think of giving more time if they are not then we will take decision at that point of time tyagi said on the punjab and haryana high court last week stayed the construction sale and marketing of dlfs crest project in gurgaon the company said we are trying to present the facts and hope to resolve this issue at the earliest dlf said its new residential project camellia in gurgoan will be formally launched in the next two months during the 201213 fiscal the companys net profit declined by 41 per cent to rs 71192 crore as against rs 120082 crore in the earlier fiscal