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. ...