DLF executes Rs 669.86 crore Kolkata property sale deals

DLF Limited has recently entered into sale agreements for two properties located in Kolkata, resulting in a total of Rs 669.86 crores of asset monetization as part of their capital optimization strategy.

This will be disclosed under Regulation 30 of the SEBI Listing Regulations. The sale of the IT/ITeS SEZ undertaking to Makalu Builders LLP and Srijan Realty Private Limited will be through a business transfer agreement for a price of Rs 410 crores.

Key Highlights

• DLF monetises Kolkata assets worth Rs 669.86 crore
• IT/ITeS SEZ business and 17.75-acre land parcel sold
• Deals align with DLF’s capital optimisation strategy

The company has also executed an agreement to sell 17.75 acres of vacant land to Gangapurna Projects LLP for a purchase price of Rs 260 crores. All buyers participate in the Srijan Group of companies and are independent from DLF's promoter group.

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In FY25, the SEZ business generated revenues of Rs 66.88 crore, which included rental revenues of Rs 41.74 crore and maintenance/other revenues of Rs 25.14 crore, representing approximately 1.5% of the company's total revenues.

Both transactions are cash transactions subject to usual regulatory approvals and conditions precedent. The expected completion date is typically within four months from execution. DLF stated that these asset sales are consistent with DLF's broader strategy to create value for shareholders and to optimize its portfolio through disciplined capital allocation.