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Diversification plans for realty developers fizzle amid mounting debt
In 2006, a unit of DLF, then an unlisted company, planned to set up 100 hotels across the country in 10 years, which included four-star, business and budget hotels in 50 cities. The company also planned to set up super luxury hotels in five to six cities. The total investment envisaged was $800 million (around Rs 3,600 crore). Today, besides the international luxury hotel chain Aman Resorts , DLF owns
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