Deals17 Apr 2025, 12:04 am
DLF Ltd to Sell IT/ITeS SEZ Business in Kolkata for ~₹ 693 Crore
AI Summary
DLF Ltd has entered into a definitive Master Framework Agreement (MFA) with Srijan Realty Private Limited and its subsidiary company(ies) for the sale of its IT/ITeS SEZ in Kolkata. The agreement is for a freehold land parcel of approximately 25.90 acres, along with a constructed building named DLF Tech Park, having a gross leasable area of ~10,54,357 square feet. The agreed consideration is ~₹ 693 crore, subject to requisite adjustments as agreed in the MFA. The proposed transaction is subject to certain conditions precedent and regulatory approvals.
Key Highlights
- DLF Ltd has agreed to sell its IT/ITeS SEZ in Kolkata to Srijan Realty Private Limited for ~₹ 693 crore.
- The agreement is for a freehold land parcel of approximately 25.90 acres, along with a constructed building named DLF Tech Park.
- The proposed transaction is subject to certain conditions precedent and regulatory approvals.
- The sale is expected to be completed within an estimated period of 12 months from the date of the MFA.
- The IT/ITeS SEZ Business contributed ~₹ 86.26 crore (viz. ~2.11% of turnover of the undertaking or subsidiary or Company) to the Company's revenue in FY 2023-24.