DLF is reportedly eyeing multiple partners to divest 40% stake in its rental arm ‘DLF Cyber City Developers’ in order to get maximum valuation. The company is holding individual bilateral discussions with more than three financial institutions at the moment. The realty major had shortlisted Brookfield Asset Management, Blackstone Group and Singapore wealth fund GIC for this exercise.
The stake sale is expected to leave DLF in funds enabling it to substantially lower its debt which currently stands at Rs 22,120 crore as on June 30.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 288 million square feet (approximately) of development potential with 45 million square feet of projects under construction.