Gurugram: DLF has finalized a previously announced deal, monetizing key commercial and land assets as part of its ongoing portfolio rationalisation and capital recycling strategy.
DLF confirmed that it has completed the transfer of its IT/ITeS Special Economic Zone undertaking, including the built property ‘DLF TechPark II’. The asset has been transferred to Makalu Builders LLP, an entity within the Srijan Group, following fulfillment of all conditions and regulatory approvals.
Alongside the asset transfer, the company also sold approximately 17.75 acres of vacant land located in Kolkata. The land parcel has been acquired by Gangapurna Projects LLP, another entity affiliated with the Srijan Group, marking a parallel transaction under the same agreement framework.
The combined consideration for both transactions stands at approximately Rs 710.23 crore. These deals were executed under previously signed agreements, including a Master Framework Agreement, Business Transfer Agreement, and Agreement to Sell, indicating a structured and pre-planned divestment process.
With the completion of these transactions, DLF has effectively exited select non-core assets while unlocking capital. The move aligns with its broader strategy of optimizing asset allocation and focusing on core business segments, particularly in high-value real estate developments.
The company had earlier disclosed details of these transactions and has now confirmed their closure following regulatory clearances and completion of all required conditions.
Disclaimer: This article is based solely on the company’s official filing and disclosure. Forward-looking statements, if any, are subject to risks and uncertainties that may cause actual outcomes to differ materially.
