News: Goldman Sachs may invest $221 m in DLF

(RTR 19/10/2006) Mumbai - US investment bank Goldman Sachs is likely to invest Rs 1,000 crore ($221 million) in unlisted Indian real estate firm DLF, the Economic Times newspaper reported on Thursday, citing unnamed sources.

"Goldman Sachs is bullish on investing in some of the company's ongoing projects, including the one being developed in Delhi," the report said.

DLF's chief financial officer, Ramesh Sanka, told Reuters the report was "absolutely baseless and speculative."

Goldman, which ended an investment banking and broking alliance with Kotak Mahindra group in March, has said it was looking to invest $1 billion in India in the next few years.