DLF, a premier real estate company in India for over six decades, has reportedly shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers. The shortlisted funds have put in offers of Rs 12,000-13,000 crore for the stake. The company has shortlisted GIC, Blackstone, Warburg Pincus, Brookfield Asset Management, a consortium of Abu Dhabi Investment Authority (ADIA), Kotak Realty Fund and Qatar Investment Authority (QIA). Post this transaction, the company is planning to wipe out the debt in its development arm in a bid to de-risk its business model on the residential side.
DLF has nearly 70 years of track record of sustained growth, customer satisfaction, and innovation. The company has 284 million square feet of planned projects with 41 million square feet of projects under construction. Its primary business is development of residential, commercial and retail properties.
