Real Estate behemoth Shapoorji Pallonji Group is reportedly planning to seek nearly $1 billion by introducing external investors to its solar unit, as the firm is committed to a sequence of asset sales to reduce debt. The solar unit, which will offer engineering, construction, and procurement services is said to produce INR 95 billion in revenue. Khurshed Daruvala, Chairman of Sterling & Wilson said in a statement that the business is catching up in the U.S. and Australia, where the market potential may be around $10 billion. Owned by Pallonji Mistry, Shapoorji Pallonji Group will sell about 30% of Sterling & Wilson Pvt’s solar engineering division, Jai Mavani, Executive Director of the group’s flagship company said in a statement. Mavani further noted that the funds will be raised through a pre-listing stake sale and public offering. A separate listing of Eureka Forbes, the water purification unit owned by publicly-traded Forbes & Co as well as sales of the commercial real estate will also be included. Profits from the sale will be used to repay the debt. As per credible sources, the real estate mogul will now be lending a hand in what is considered to be India’s largest affordable home project. The company is seeking to enter the market when debt funding is at its scarcest after India’s worst liquidity crunch. Discussions about investments with sovereign funds and multilateral agencies are still in progress, while pre-IPO placements may possibly be completed within six months, added Mavani. The group is also in talks of hiving off Forbes & Co’s Eureka Forbes Ltd and listing it as a separate company. According to Mavani, Eureka Forbes would be worth more than its parent company, which possesses a market capital of around INR 2610 crore, whereas Forbes & Co’s total is at least three times the value its currently presented by. The group is committed to raising nearly INR 3000 crore by 2019 through asset sales and infusion from the founding family.