DLF shares in focus after Rs 693 cr asset sale agreement with Srijan Group

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DLF shares will be in the spotlight on Thursday, April 17, after the company announced that it had entered into a definitive Master Framework Agreement (MFA) for the sale of its Kolkata-based IT/ITeS SEZ business to the Srijan Group and its subsidiaries for a total agreed consideration of Rs 693 crore.

The deal includes the transfer of 25.90 acres of freehold land and a constructed building, DLF Tech Park, with a gross leasable area of 10.54 lakh square feet in Kolkata.


The transaction is structured as a slump sale and is expected to be completed within 12 months, subject to regulatory approvals and other conditions precedent outlined in the agreement.

The Kolkata IT/ITeS SEZ business contributed Rs 86.26 crore in turnover during FY2023-24, accounting for approximately 2.11% of DLF’s overall turnover.


The acquirers in this transaction are Gangapuram Projects LLP and Makalu Builders LLP, both subsidiaries of Srijan Realty Private Limited.

The company has clarified that the deal does not fall under related party transactions and is being executed through a Business Transfer Agreement rather than as part of a Scheme of Arrangement.Also read: Gensol promoters quit board; BluSmart begins shutting ops

DLF share price history


Over the last 1 year, DLF share price has declined by 25.07%. The year-to-date (YTD) change shows a decline of 20.45%. Over the past 6 months, the price has dropped by 25.77%, while the 3-month change reflects a decrease of 11.40%. In the last 1 month, the price has fallen marginally by 0.21%.

On Wednesday, the shares of DLF closed nearly 1% lower at Rs 656.60 on the BSE.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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