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<keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>, which is India's largest commercial real estate developer, has shortlisted six names, who could potentially buy the <a href="http://www.businessinsider.in/Indias-DLF-promoters-to-sell-stake-in-rental-business/articleshow/49283761.cms">40% promoters’ stake </a>in its rental arm, called <keyword id="2984482" type="UNKNOWN" weightage="100" keywordseo="DLF-Cyber-City-Developers-Limited">DLF Cyber City Developers Limited</keyword>. 
 
The deal is expected be worth about Rs 13,000 crore, as per <a href="http://economictimes.indiatimes.com/industry/indl-goods/svs/construction/dlf-shortlists-6-potential-buyers-for-promoters-40-per-cent-stake-in-rental-arm/articleshow/53107305.cms">ET</a> sources. 
 
Over the weeks gone by, <a href="http://www.businessinsider.in/Shares-of-DLF-Ltd-surged-to-its-days-high/articleshow/48771527.cms">DLF </a>had invited expressions of interest, receiving about 11 offers, from which GIC, Blackstone, Warburg Pincus, Brookfield AssManagement, a consortium of Abu Dhabi Investment Authority (ADIA), Kotak Realty Fund and Qatar Investment Authority (QIA) have been shortlisted, along with an unidentified fund. 
 
Reportedly, Temasek, Khazanah, Canada Pension Plan Investment Board and Goldman Sachs had also offered for the deal but couldn’t get shortlisted. 
 
Also read: <a href="http://www.businessinsider.in/EXCLUSIVE-How-DLF-gave-the-country-Mall-of-India-its-first-destination-mall/articleshow/52025229.cms">EXCLUSIVE: How DLF gave the country Mall of India, its first destination mall</a> 
 
Using the money from this transaction, <a href="http://www.businessinsider.in/DLF-is-building-itself-well-at-the-Market-today-Know-how/articleshow/48079971.cms">DLF </a>is planning to wipe out the debt that it has in its development arm, so that the residential business model can attract investments without risks. 
 
<a href="http://media2.intoday.in/btmt/images/stories/dlf2_505_070813045645_071213030449_072513064523_021014034323.jpg">Image source</a>

DLF is all set to sell promoters’ 40% stake in rental arm, shortlists 6 potential names

New Delhi, Feb 3 () Realty firm DLF has given on lease about 2 lakh sq ft office space to social media platform Facebook in Gurugram, sources said.
 The leasing transaction has been done at around Rs 135 per sq ft a month, the sources said adding that the space has been taken in DLF Atria building at Cybercity in Gurugram, Haryana.
 When contacted, DLF Managing Director (Rental Business) Sriram Khattar said, "We do not comment on individual deals due to client confidentiality."
 An e-mail sent to Facebook remained unanswered. The social media platform had an estimated 328 million user base as on September 2019.
 DLF has a rental portfolio of about 36 million sq ft, of which around 32 million sq ft is office space and rest retail properties. It earns over Rs 3,000 crore rental income annually from these leased assets.
 The rental assets are being held by DLF's joint venture firm DLF Cyber City Developers Ltd (DCCDL). Singapore's sovereign wealth firm GIC has 33 per cent stake in DCCDL, while realty major has 67 per cent shareholding.
 "Our highest standards of compliance, safety and sustainability coupled with our passion for customer delight does attract occupiers to our properties. DLF has a demonstrated record of unwavering commitment towards providing the highest quality standards at affordable rentals," Khattar told .
 With commercial real estate performing well despite overall slowdown in the real estate market, DLF has started construction of another 20 million sq ft area in Gurugram and Chennai.
 Office space leasing touched an all-time high in the calendar year 2019 as per the reports of various real estate consultants.
 To monetise its commercial assets, DLF in December 2017 entered into a joint venture with Singapore sovereign fund GIC when DLF promoters sold their entire 40 per cent stake in DCCDL for nearly Rs 12,000 crore.
 This deal included sale of 33.34 per cent stake in DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL.
 DLF has so far developed 153 real estate projects comprising 331 million sq ft. It has a land bank of 192 million sq ft. MJH HRS

DLF gives on lease 2 lakh sq ft office space in Gurugram

Chennai, Jan 23 () India's largest realty firm DLF on Thursday announced an investment of Rs 5,000 crore to develop large commercial project here as part of its strategy to expand portfolio of rent yielding properties.
Tamil Nadu Chief Minister Thiru Edappadi Palaniswami laid the foundation stone of 'DLF Downtown' at Taramani in Chennai.
The 27 acre project will be developed by DLF's joint venture firm with GIC named DLF Cyber City Developers Ltd (DCCDL). The total commercial area, largely office spaces to be constructed under the new project, is 6.8 million sq ft in various phases.
"Tamil Nadu has always been a destination of choice for corporates and MNCs due to its talent pool and favourable business environment. We are investing Rs 5,000 crore in phases for developing our fourth project DLF Downtown, Taramani in Chennai," DLF CEO Mohit Gujral said.
DLF would commence construction of 2.5 million sq ft area in the first phase.
The project, to be completed in the next 5-6 years, would help additional 70,000 direct and 6,000 ancillary employment opportunities once operational.
"Chennai continues to strengthen its position as an IT/ITeS hub with increasing investment commitment from global companies, making it out second largest market after Gurugram," DLF MD (Rental Business) Sriram Khattar said.
With this project, he said, the company would now have a 14 million sq ft of development in Chennai.
"The company has identified a development pipeline of 20 million sq ft and a construction of 5.5 million sq ft is underway. This will augment our existing 35 million sq ft rental portfolio of office and retail properties," Khattar said.
The company plans to take the national commercial portfolio to over 50 million sq ft, he added.
DLF earns an annual rental income of over Rs 3,000 crore from its commercial properties that are located in Gurugram, Chennai, Hyderabad, Kolkata and Chandigarh.
Another 20 million sq ft commercial space is under development.
Unlike residential property market, commercial real estate, especially office market, is performing well. Office space leasing touched an all time high in 2019.
To monetise its commercial assets, DLF in December 2017 entered into a joint venture with Singapore sovereign fund GIC when DLF promoters sold their entire 40 per cent stake in DLF Cyber City Developers Ltd (DCCDL) for nearly Rs 12,000 crore.
This deal included sale of 33.34 per cent stake in the DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by DCCDL.
In DCCDL, DLF currently holds nearly 67 per cent stake, while GIC has the remaining stake.
DLF has so far developed 153 real estate projects comprising 331 million sq ft. It has a land bank of 192 million sq ft. MJH BAL

DLF to invest Rs 5,000 cr in new commercial proj in Chennai; TN CM lays foundation stone

Realty major <keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>'s total rental income will rise by 12 per cent to about Rs 2,900 crore this fiscal on better realisation from existing commercial assets and addition of new properties in Chennai and Delhi, according to a PTI news report. DLF, the country's largest real estate firm, earned a rental income of around Rs 2,600 crore last fiscal. The company informed analysts that total rental income will rise to Rs 2,900 crore in the 2017-18 fiscal. When contacted, DLF's Managing Director (Rental Buisness) Sriram <keyword id="900635" type="PERSON" weightage="20" keywordseo="Khattar">Khattar</keyword> said that the rentals will rise as the company has renewed its existing stock at a higher value after the expiry of 9-year leasing agreement with the occupiers. Moreover, he said, about one million sq ft area will gadded this fiscal in Chennai and the national capital. Given the quality of our office buildings and shopping malls as well as our focus on safety, compliance and sustainability, an overwhelming majority of our tenants renew their leases on term expiries at market rates," Khattar said. "In addition, about 8 lakh sq ft in Chennai and about 1.9 lakh sq ft in Chanakya Puri, Delhi will be the new assets that will add to the rental income," he said. In an analyst conference, DLF's group CFO Ashok Tyagi had said that the company's total income is expected at Rs 2,900 crore this fiscal. According to investors presentation, DLF's gross leasing stood at 4.03 million sq ft during the last fiscal. "Net leasing of 0.88 million sq ft post lease terminations/expiry of 3.15 msf during FY17." Unlike housing segment which is facing a huge slowdown in demand, the commercial real estate is doing well. In October 2015, DLF had announced that its promoters would sell their entire 40 per cent stake in <keyword id="2531590" type="COMPANY" weightage="20" keywordseo="DLF-Cyber-City-Developers-Ltd">DLF Cyber City Developers Ltd</keyword> (DCCDL), which holds the bulk of the commercial assets of the group. The promoters -- billionaire K P Singh and family -- had in March this year entered into an exclusivity pact with <keyword id="6357968" type="ORGANIZATION" weightage="20" keywordseo="GIC">GIC</keyword> for the deal, estimated at about Rs 13,000 crore. The promoters would invest a significant amount from this proposed transaction into <keyword id="102030" type="CITY" weightage="20" keywordseo="DLF-LTD">DLF Ltd</keyword>, which will use it for reduction of debt that has crossed Rs 25,000 crore. DLF expects an agreement with the GIC in the next few weeks and deal to be concluded by October this year after receiving regulatory and all other approvals. The company has about 30 million sq ft of commercial area and out of that, DCCDL holds about 22 million sq ft of commercial space.

You Searched For "DLF promoters stake" and got 4 results

DLF is all set to sell promoters’ 40% stake in rental arm, shortlists 6 potential names

BI India Bureau

DLF gives on lease 2 lakh sq ft office space in Gurugram

PTI

DLF to invest Rs 5,000 cr in new commercial proj in Chennai; TN CM lays foundation stone

PTI

DLF's total rental income to rise to Rs 2,900 crore this fiscal

BI India Bureau

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