DLF Shares Slump 2% on Selling Land Parcel to Srijan Group  

Shares of DLF Ltd were trading in the red and 2% lower on 4 February after the company agreed to sell its IT/ITeS SEZ in Kolkata and a separate parcel of empty land to the Srijan Group for approximately Rs 669.86 crore, subject to accepted modifications.

The company has entered into a business transfer agreement with Makalu Builders LLP and Srijan Realty Private Ltd, both members of the Srijan Group, for the sale of its IT/ITeS SEZ venture.

The transaction involves the sale of the SEZ property, which includes the DLF TechPark II building and a freehold land block totalling approximately 8.15 acres in Kolkata.

The SEZ asset has a gross leasable area of about 10,54,357 square feet. The transaction is valued at about Rs 409.86 crore, subject to revisions outlined in the definitive documentation.

In a separate transaction, DLF has signed an agreement with Gangapurna Projects LLP, another Srijan Group business, to sell approximately 17.75 acres of unoccupied property in Kolkata. The land lot is valued at around Rs 260 crore, subject to the parties’ agreed-upon changes.

Both transactions are subject to certain pre-conditions, including the acquisition of appropriate regulatory approvals, consents, and sanctions, as indicated in the respective agreements.

Subject to these restrictions, the firm expects to complete the sale of the SEZ business endeavour and the land parcel in approximately four months beginning 3 February 2026, unless the timetables are extended in accordance with the provisions of the agreements.

DLF said that the planned sale of the Kolkata IT/ITeS SEZ business had a turnover of about Rs 66.88 crore in FY25, with gross rental income of Rs 41.74 crore and maintenance and other income of Rs 25.14 crore. This accounted for around 1.49% of the company’s overall revenue for the year.

The buyer firms, Makalu Builders LLP and Gangapurna Projects LLP, are subsidiaries of Srijan Realty Private Ltd and are not affiliated with DLF’s promoter or promoter group.

The transactions do not meet the criteria for related party transactions and are not part of any scheme. The SEZ business undertaking is being transferred through a slump sale, and DLF has declared that the planned transactions will result in no change in its shareholding pattern.

At 12:46 pm, the shares of DLF were trading 0.00% higher at Rs 650.45 on NSE. 

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