DLF Limited announced on Wednesday that it has entered an agreement with Srijan Group and its subsidiaries, which is to sell its IT-Its SEZ project in Kolkata for about Rs 693 crore.
The deal consists of a freehold land parcel, with DLF Tech Park with about 25.90 acres, with a gross area of ââabout 10,54,357 sq ft, according to the company’s exchange filing.
According to DLF, this step is part of its strategy to mudge commercial assets.
However, the company said that the deal is subject to the required adjustment as per the agreement.
It is also “subject to certain conditions, erstwhile, regulatory approval (s), consent (s), and approval (s), as specified in transactions documents”, the manifestation said.
Apart from Srijan Realty Private, the deal also includes its subsidiary companies Gangapuron Projects LLP and Makru Builders LLP.
The realty firm said that the turnover of IT/ITES SEZ business was about Rs 86.26 crore for the financial year 2023-24.
In November last year, DLF’s joint venture firm DLF Cyber ââCity Developers Limited sold an IT park in Kolkata and sold to the RDB Group for Rs 637 crore to muddy to muddy.
DCCDL-DLF and Singapore sovereign money firm GIC have a large portfolio of commercial assets such as office complexes and shopping malls in Delhi-NCR and Chennai.
The DLF has a 66.67% stake, while GIC has 33.33% in DCCDL.
The DLF group is mainly involved in the development and sales business of residential properties, as well as the development and lease of commercial assets.
DLF is the country’s largest real estate firm in terms of market cap.
The company has developed more than 185 real estate projects and has developed an area of ââover 352 million square feet since installation.
The group has a growth capacity of 220 million square feet in residential and commercial areas.
DLF Limited shares closed down 0.91% for Rs 656.60 on BSE, compared to 0.40% in benchmark sense. However, the company was revealed after the shutdown of the stock markets for Wednesday.
âK PTI input
(Tagstotransite) DLF Limited (T) IT Park (T) Land Sale
