DLF, India's largest real estate firm, has received Rs 1,992 crore from Singapore's sovereign wealth fund GIC after the completion of its deal to sell 50% stake in two of its new projects in Delhi. The move is in line with debt-ridden company’s strategy to sell stakes in projects by bringing in private equity investors.
Earlier, the company’s subsidiary -- DLF Home Developers and GIC had signed an agreement to enter into a joint venture to invest in two upcoming projects located in Central Delhi, wherein GIC would invest Rs1,990 crore in the said projects. The company had received the Competition Commission of India’s approval for this joint venture.
Company Name | CMP |
---|---|
Dilip Buildcon | 461.90 |
Macrotech Developers | 1213.30 |
NBCC (India) | 132.25 |
Prestige EstatesProj | 1307.10 |
DLF | 895.55 |
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