DLF has received Rs.1992 cr from GIC from stake sale in 2 projects

Q: The company has received Rs. 1992 from Singapore's sovereign wealth fund GIC.

Amreesh Murugan,

24th December 2015

Real estate News in Mumbai

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They are big players of realty market. As property market is going through a difficult phase in last 2-3 years. Company had announced in February that it would raise over Rs. 3000 crore through divestment or joint ventures.

Sunil Sharma, Noida

24th December 2015

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@Sunil,
DLF is hoping that this investment with GIC is a beginning of a new relationship at project level. They look forward to working together with GIC in many residential and commercial projects.

Harilal, Delhi-NCR

24th December 2015

Hi Rishi,
And the company would use this fund to boost cash flow and reduce debt, which stood at Rs. 22520 crore in September end.

Gautam G,

24th December 2015

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Right Gautam,
DLF has announced in September that its arm DLF Home Developers and GIC will enter into a JV for its 2 upcoming projects located in Central Delhi and GIC will invest Rs.1990 crore. After a gap of 4-5 yrs. company has raised private equity at project levels.

Harilal, Delhi-NCR

24th December 2015

DLF has sold its 50% stake each in two upcoming projects in the national capital to complete the deal. In September this year DLF had announced the stake sale in the two projects to GIC. Last month, the fair trade regulator CCI had approved joint venture with GIC for these two projects in central Delhi.

Rishi Dev,

24th December 2015

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