DLF one of the biggest real estate player of India has cancelled the plan to exit its life insurance joint venture with U.S based Prudential Financial wherein the company said that it plans to sell 74% of stake into the insurance firm. Earlier the day many newspapers reported that DLF was planning to look out for a buyer for a stake into DLF Premerica Life Insurance.
Also a report states that the company is hesistant about spending money on business which is not a part of its area of operation. But the company executives said that insurance business is going very well and they don’t need to sell it off. There are lot of other business which is not area of their operations. But it doesn’t mean they are going to sell it of.
The company has invested much greater amount into such business before this fortnight.
The company has invested much greater amount into such business before this fortnight.
