DLF plans to sell stakes in Pune,
Noida IT parks for Rs 1,300 crore
About DLF..!
DLF Limited, is India's largest real estate company in terms of revenues, earnings, market capitalisation and developable area. It has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 399 msf of planned projects with 56 msf of projects under construction.
DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. DLF has also forayed into infrastructure, SEZ and hotel businesses.
The development business of DLF includes Homes and Commercial Complexes
The Homes business caters to 3 segments of the residential market - Super Luxury, Luxury and Mid-Income. The product offering involves a wide range of products including condominiums, duplexes, row houses and apartments of varying sizes
DLF is credited with introducing and pioneering the revolutionary concept of developing commercial complexes in the vicinity of residential areas. DLF has successfully launched commercial complexes and is in the process of marking its presence across various locations in India.
The development business at present has 302 msf of development potential with 40 msf of projects under construction
With over six decades of excellence, DLF is a name synonymous with global standards, new generation workspaces and lifestyles. It has the distinction of developing commercial projects and IT parks that are at par with the best in the world. DLF has become a preferred name with many IT & ITES majors and leading Indian and International corporate giants, including GE, IBM, Microsoft, Canon, Citibank, Vertex, Hewitt, Fidelity Investments, WNS, Bank of America, Cognizant, Infosys, CSC, Symantec and Sapient, among others.
DLF pioneered the retail revolution in the country and brought about a paradigm shift in the industry by redefining shopping, recreation and leisure experiences with the launch of City Centre in Gurgaon in 2000. The Retail Malls business is a major thrust area for DLF. Currently, DLF is actively creating new shopping and entertainment spaces all over the country.
Corporate Office
DLF Centre
Sansad Marg,
New Delhi- 110001,
Tel: +91-11-42102030
Website: http://www.dlf.in/
Noida IT parks for Rs 1,300 crore
Gurgaon Based DLF, India's largest real estate company, will sell its shareholding in two IT SEZs in Pune and Noida, for a combined value of Rs 1,300 crore, as it steps up the disposal of non-core assets to pay down debt of almost $5 billion. Two partners, Ackruti City and The 3C Company, will also exit. Blackstone is likely to buy the IT SEZ in Pune for Rs 900 crore, while a high net worth investor will buy the Noida IT Park for Rs 400 crore.
The transactions have not yet closed. DLF's has a 70 per cent stake in each of the two properties. Ackruti City is a co-promoter in the Pune venture, while The 3C Company is a partner in the Noida IT park both with 30 per cent each. Both partners are selling their stakes.
The two sales are in line with DLF's strategy to divest non-core assets. The company had said last month that it plans to sell developed assets, including IT Parks and its hotels business and raise about Rs 7,000 crore over the next two years to reduce its debt. DLF's net debt at the end of March was close to Rs 24,000 crore.
The DLF-Ackruti IT SEZ in Pune's Hinjewadi area has a total area of 5 million sq ft of which 1.8 million is currently operational. It has prominent tenants such as Cognizant Technologies, Tata Consultancy Services, Barclays and Novalis.
Another 3.3 million sq ft is under construction at the moment. DLF had initially planned to raise Rs 4,500 crore from sale of its non-core assets. In a recent presentation, it has said that it now plans to raise Rs 10,000 crore in the next 2-3 year.
The transactions have not yet closed. DLF's has a 70 per cent stake in each of the two properties. Ackruti City is a co-promoter in the Pune venture, while The 3C Company is a partner in the Noida IT park both with 30 per cent each. Both partners are selling their stakes.
The two sales are in line with DLF's strategy to divest non-core assets. The company had said last month that it plans to sell developed assets, including IT Parks and its hotels business and raise about Rs 7,000 crore over the next two years to reduce its debt. DLF's net debt at the end of March was close to Rs 24,000 crore.
The DLF-Ackruti IT SEZ in Pune's Hinjewadi area has a total area of 5 million sq ft of which 1.8 million is currently operational. It has prominent tenants such as Cognizant Technologies, Tata Consultancy Services, Barclays and Novalis.
Another 3.3 million sq ft is under construction at the moment. DLF had initially planned to raise Rs 4,500 crore from sale of its non-core assets. In a recent presentation, it has said that it now plans to raise Rs 10,000 crore in the next 2-3 year.
About DLF..!
DLF Limited, is India's largest real estate company in terms of revenues, earnings, market capitalisation and developable area. It has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 399 msf of planned projects with 56 msf of projects under construction.
DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. DLF has also forayed into infrastructure, SEZ and hotel businesses.
The development business of DLF includes Homes and Commercial Complexes
The Homes business caters to 3 segments of the residential market - Super Luxury, Luxury and Mid-Income. The product offering involves a wide range of products including condominiums, duplexes, row houses and apartments of varying sizes
DLF is credited with introducing and pioneering the revolutionary concept of developing commercial complexes in the vicinity of residential areas. DLF has successfully launched commercial complexes and is in the process of marking its presence across various locations in India.
The development business at present has 302 msf of development potential with 40 msf of projects under construction
With over six decades of excellence, DLF is a name synonymous with global standards, new generation workspaces and lifestyles. It has the distinction of developing commercial projects and IT parks that are at par with the best in the world. DLF has become a preferred name with many IT & ITES majors and leading Indian and International corporate giants, including GE, IBM, Microsoft, Canon, Citibank, Vertex, Hewitt, Fidelity Investments, WNS, Bank of America, Cognizant, Infosys, CSC, Symantec and Sapient, among others.
DLF pioneered the retail revolution in the country and brought about a paradigm shift in the industry by redefining shopping, recreation and leisure experiences with the launch of City Centre in Gurgaon in 2000. The Retail Malls business is a major thrust area for DLF. Currently, DLF is actively creating new shopping and entertainment spaces all over the country.
Corporate Office
DLF Centre
Sansad Marg,
New Delhi- 110001,
Tel: +91-11-42102030
Website: http://www.dlf.in/
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