The company has properties in Kochi, Delhi, Hyderabad and Gujarat which it plans to put on block.
"Our focus remains on expanding our presence in Mumbai. Therefore, we believe that instead of sitting on these assets we can monetise them to reduce our debt and concentrate on execution of current projects," its Vice-Chairman and Managing Director Sarang Wadhawan told PTI.
"If all these non-core properties are monetised in FY16, we expect to garner nearly Rs 750 crore, which we will use to repay the debt," he said.
The company has a 113 acres land parcel in Baroda, which is an industrial zone, 70 acre plot in Kochi, 100 acres each in Hyderabad and Noida.
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While the company plans to sell the properties in Baroda, Hyderabad and Delhi, it is looking for a joint venture for the parcel in Kochi.
HDIL had planned to set up an IT park on the 70 acre of land at the Special Economic Zone (SEZ) at Kalamassery with a planned investment of Rs 2,300 crore.
"Every year, we are trying to reduce our debt to the possible extent. Our intent is to further reduce our debt by 25 per cent in FY16 to less than Rs 2,500 crore," Wadhawan said.
Apart from monetising assets, the company is focusing on executing ongoing projects and increasing sales.
"These are the projects, which were stuck due to various reasons. But now as the execution has picked up, most of them have reached completion stage and sales will increase. These proceeds will be used to fund our working capital requirement as well as for paring debt," he added.
The company also plans to launch the first phase of its affordable housing project 'Planet HDIL' in Virar and another in Panvel.