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Realty stock jumps after company sells its Kolkata Tech Park business for ₹637 Cr to Primarc and RDB Group

Major real estate developer has agreed to sell its 1.49 million sq. ft. Kolkata-based tech park for ₹637 crore to a prominent LLP, featuring global tenants and cutting-edge facilities.
Realty stock surges as company sells Kolkata Tech Park business for ₹637 Cr to Primarc, RDB.
Realty stock surges as company sells Kolkata Tech Park business for ₹637 Cr to Primarc, RDB.

Introduction:

Leading real estate developer has entered into an agreement to sell its Kolkata-based tech park for ₹637 crore to a prominent LLP. The sale involves a slump sale of a 1.49 million sq. ft. IT park with global tenants.

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Also Read: Adani group stock jumps after it acquires 99% stake in Aviserve and Aviground Facilities

Share price movement of DLF:

On December 2, 2024, DLF Ltd. opened at ₹831.95, up 1.11% from ₹822.80. The stock reached a high of ₹832.80 (1.22%) and a low of ₹822.80. By 11:53 AM, it traded at ₹827.15, a 0.53% increase, with a market cap of ₹2,04,745.41 crore.

DLF Sells Kolkata Tech Park for ₹637 Crore:

DLF Info City Developers (Kolkata) Limited, a wholly-owned subsidiary of DLF Cyber City Developers, has agreed to sell its Kolkata Tech Park business for ₹637 crore to RDB Primarc Techno Park LLP, marking a significant transaction.

The deal involves the slump sale of Kolkata Tech Park, located in Kolkata, with the business transferred on an as-is, where-is basis. The park covers ~1.49 million sq. ft. and is one of Eastern India’s largest IT parks, featuring cutting-edge facilities.

Kolkata Tech Park holds a LEED Platinum certification and serves as the home to several global technology giants. The sale aligns with DLF’s strategic focus on its core real estate development operations.

Recent news on DLF:

As of November 3, 2024, DLF announced plans to invest ₹8,000 crore in an ultra-luxury housing project in Gurugram. The 17-acre ‘The Dahlias’ project will offer 420 apartments, building on the success of ‘The Camellias.’

Stock performance of DLF for Period of 1 week, 6 months and 1 year:

The stock has shown a minor decline of 0.04% over the past week. Over the last six months, it gained 3.38%, and its strong performance over the past year reflects a significant 30.8% increase, showcasing steady growth and resilience.

Also Read: Infra stock jumps 2% after it receives order for 500 MW battery energy storage systems in Gujarat

Shareholding pattern of DLF:

All values in %Sep 2024Jun 2024Mar 2024
Promoter74.10%74.10%74.10%
FII16.70%16.20%16.50%
DII4.70%4.80%4.80%
Public4.60%5.00%4.60%
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About DLF:

DLF Ltd (NSE: DLF) is a leading real estate developer engaged in land acquisition, planning, construction, and marketing of projects. The company also operates in leasing, power generation, hospitality, and related services for real estate development.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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