DLF’s wholly owned subsidiary - DLF Home Developers (DHDL), received its final tranche of payment of Rs 93.5 crore on the sale of balance shares of Galaxy Mercantile (GML), a joint venture (JV) Company of DHDL, IDFC and others.
Earlier, in November 2011, IDFC had contracted to acquire 100% stake in the JV Company owning 1.3 million square feet IT Park located in Sector 62, Noida, Uttar Pradesh. The above transaction is in line with the DLF’s objective of divesting its non-core assets.
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 314 msf of planned projects with 52 msf of projects under construction.