DLF sells Mumbai plot for 27.50bn: reports
DLF has sold its 17.5-acre plot at Lower Parel in Mumbai to Lodha Developers for Rs. 27.50bn,according to reports.
Reports stated that the deal involved payment of the first instalment of Rs. 5bn on August 13 and final payment of Rs. 22.50bn in October.
In June 2005, DLF had bought the land in Mumbai in an auction from National Textile Corporation for Rs. 7.02bn, report says.
The deal would help the company in bringing down its consolidated debt significantly by the end of current fiscal.
Netflix CEO buys Facebook shares worth US$1mn
Netflix Inc. CEO Reed Hastings has acquired Facebook shares worth about $1 mn, according to reports.
Hastings, a member of Facebook's board of directors, revealed that he bought 47,846 shares of Facebook at an average price of $21.03 a share, says report.
Reports stated that Facebook's stock has fallen nearly 45% since it first sold public shares to investors at $38.