DLF to sell 74% equity stake in its Insurance JV

25 Jul 2013

DLF has signed a definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture - DLF Pramerica Life Insurance Company, a joint venture with Prudential International Insurance holdings (PIIHL), a subsidiary of Prudential Financial, Inc USA 'PFI' to Dewan Housing Finance Corporation (DEIFL) & its group entities. These agreements are subject to regulatory approvals. The transaction is in line with the DLF's ongoing strategy to divest non-core assets.

DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.

DLF Share Price

269.25 -13.15 (-4.66%) Jan 22, 18:59
1 Year Price Chart
Peers
Company Name CMP
Dilip Buildcon 414.90
NBCC (India) 31.45
Sobha 478.40
JMC Projects (India) 67.80
Prestige Estate Proj 276.25
View more..
Sensex vs DLF
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback