DLF Completes ₹7.1 Billion Asset Transfer and Land Sale to Srijan Group

DLF has completed the transfer of its IT/ITeS SEZ undertaking and the sale of a land parcel to entities within the Srijan Group, closing a set of previously announced transactions, the company said in a press release.

On Monday the company transferred its SEZ property, including the building DLF TechPark II, to Makalu Builders LLP, the company said. The entity is part of Srijan Realty and its group companies.

Alongside this, DLF also sold around 17.8 acres of vacant land in Kolkata to Gangapurna Projects LLP, another Srijan Group entity.

The total deal value stands at ₹7.1 billion, based on an aggregate consideration of ₹710.2 million.

DLF noted that all conditions precedent and regulatory approvals were completed before closing the transactions. With this, the agreements signed earlier with the Srijan Group now stand fully executed.