Putting its “liquidity preservation and de-leveraging” measure into practice, India’s biggest real estate developer DLF intends raising Rs 5,500 crore through the sale of “non-strategic” assets, like power units and hotels.

The sale of assets follows DLF’s gross debt increase of 33 percent to Rs 16,358 crore this March, from the year before figures of Rs 12,277.08 crore.

Announcing the proposed move to analysts at a conference call, the company also said that it is counting on an additional Rs 2,000 crore of capital inflows from group company DLF Assets.

Elaborating on the proposed sale of assets, Rajiv Singh, the company’s Vice-chairman, said that the assets to be sold are the ones that may not start contributing in the next 3-5 years, and the ones that can be “recaptured later.” Singh added that while the sale of assets worth Rs 3,500 crore is already under execution, the remaining Rs 2,000 crore worth of assets to be sold are being identified.

Though Singh stopped short of giving a complete break-up of projected returns from assets, the company is expected to raise Rs 900 crore by selling of its wind power business; Rs 336 crore from the state governments, after its pull out of Bidadi and Dankuni real estate projects; and nearly Rs 850 crore from its exit from Dwarka’s convention centre project.