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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

<ul><li>The SGX Nifty was trading 0.27% lower at 7:45 am, indicating a red start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst negative cues from the global markets, the Indian equities are likely to open lower on Thursday. The SGX Nifty was trading 0.27% lower at 7:45 am, indicating a weak start for Nifty50. The US stocks also closed on a choppy note as negotiations continue to drag over the stimulus package. Dow Jones shed over 97 points, and the S&amp;P 500 ended 0.22% lower. These are the stocks to watch out for during the trading session on October 22: Bajaj Finserv The private lender Bajaj Finserv reported an 18% fall in its consolidated net profit to ₹986.29 crore for the quarter ended September 30, as group entities suffered a contraction in profits. The company’s overall income rose 5.8% to ₹15,051.59 crore during the quarter under review. The shares of Bajaj Finserv ended 0.72% lower on Wednesday. DLF Realty major DLF’s rental arm has signed a deal with Standard Chartered GBS. DLF will be leasing 7.7 lakh sq ft office space in an upcoming commercial tower in Chennai. The shares of DLF ended 2.87% higher on Wednesday. Prestige and Brigade Bengaluru-based developers Prestige and Brigade Group have partnered to develop a shopping mall and a hotel in Chennai at the cost of around ₹500 crore. The two leading developers have jointly taken 7.5-acre land on a 99-year lease in Chennai. The shares of Prestige ended 3% lower on Wednesday, whereas Brigade was up over 4%. Kirloskar Brothers Regulator SEBI has slapped a penalty of ₹31 crore on Kirloskar Brothers Ltd (KBL) promoters and others for indulging in insider trading and committing fraud on public shareholders of Kirloskar Industries. Also, the entities have been barred from the capital market for a period ranging three months to six months, the regulator said in three separate orders on Tuesday. The shares of Kirloskar Brothers ended 0.18% lower on Wednesday. Aavas Financiers Aavas Financiers board approved to raise up to ₹100 crore via bonds. The shares of Aavas Financiers ended 0.44% lower on Wednesday. Equitas Small Finance Bank IPO The initial public offering (IPO) of Equitas Small Finance Bank was subscribed 67% on the second day of bidding. The portion reserved for qualified institutional buyers (QIBs) was subscribed 5%, non-institutional investors 5% and retail investors 142%. Bajaj Auto, Asian Paints, Biocon and Bharti Infratel Bajaj Auto, Asian Paints, Biocon and Bharti Infratel will be reporting their financial earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms" data-type="tilCustomLink">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms" data-type="tilCustomLink">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms" data-type="tilCustomLink">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stocks to watch — DLF, Bajaj Finserv, Prestige, Brigade, Bajaj Auto, Asian Paints, Biocon, and others

<ul><li>The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened higher on Monday, as hopes of a US fiscal package and expectations of a COVID-19 vaccine by the end of this year kept investors optimistic globally. The 30-share BSE index Sensex was up 434 points, and the NSE Nifty was trading 0.94% higher at 9:52 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divis Lab </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr></tbody></table>*as of October 19, 09:50 am These are the top stocks in news today. Dewan Housing Finance Corporation (DHFL) leaps 10% The shares of DHFL were<a href="https://www.businessinsider.in/business/corporates/news/adani-group-piramal-among-4-bidders-for-dhfl-lenders-stare-at-over-60000-crore-write-off/articleshow/78740854.cms"> trading 10% after news reports surfaced</a> that Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-headquartered SC Lowy are the four entities that have placed bids for the first financial services player DHFL, which is undergoing an insolvency process. Jet Airways locked in 5% upper circuit The shares of cash strapped Jet Airways were locked in a 5% upper circuit in minutes after market opening as the company secured new owners. The airline-approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan to acquire the business. Tata Communications locked in 5% upper circuit The shares of Tata Communications were locked in 5% upper circuit after it reported around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. Its consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter. Avenue Supermarts gains over 3% Radhakishan Damani-led, D-Mart retail chain operator, Avenue Supermarts gained over 3% on Monday. The rally came after the saw its profit grow five-fold compared to the sequential quarter amid easing of lockdown restrictions. However, the profit growth was 38.5% down compared to the same period last year. HDFC Bank opens 2% higher The shares of India’s largest private sector lender, HDFC Bank opened 2% higher on Monday. The bank reported <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">an 18.4% year-on-year (y-o-y) </a>growth in profit at ₹7,513.11 crore for the quarter ended September 30. DLF up over 2% The shares of commercial real estate developer, DLF gained over 2% after its rental arm DCCDL has raised ₹2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans. SEE ALSO: <a href="https://www.businessinsider.in/international/news/20-charts-explain-why-indian-americans-are-more-likely-to-vote-for-joe-biden-in-2020-us-presidential-election/slidelist/78717893.cms" data-type="tilCustomLink">20 charts that explain why Indian Americans are more likely to vote for Joe Biden in the 2020 US Presidential Election</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-avenue-supermarts-jet-airways-ril-airtel-vodafone-idea-tata-communications-hdfc-bank-and-others/articleshow/78740639.cms" data-type="tilCustomLink">Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others</a> <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

New Delhi, Nov 25 () Realty major DLF's arm will invest around Rs 1,500 crore in the next two years on construction of over 3 million sq ft office space in Gurugram, Haryana to tap into growing demand for commercial properties from corporates and co-working players.
 DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore's sovereign wealth fund GIC, has initiated the development of its new mixed-use project 'Downtown' comprising 11 million sq ft of leasing area. DLF has 67 per cent stake in the DCCDL, while GIC has the rest.
 "We are developing 3.2 million sq ft office space in the first phase of this new project, located on national highway and adjacent to DLF Cyber City project," DLF's Managing Director (Rental business) Sriram Khattar told .
 To begin with, he said the company has started construction work on two identical buildings of 7.5 lakh sq ft each.
 "We are constructing these two buildings on steel structure with no basement for faster execution. The target is to complete by end of the next year," he said.
 The construction work on the remaining 1.7 million sq ft will start soon and get completed by end of 2021, Khattar added.
 "There is a huge demand for office space in Gurugram from corporates as well as co-working operators. Our commercial buildings in Gurugram are almost completely occupied. Therefore, we have started this new project to cater to the growing demand," Khattar said.
 DCCDL has already started leasing space in this project and is expecting a rental of around Rs 120-125 per sq ft per month.
 Asked about project cost, Khattar said the construction cost is estimated to be around Rs 5,000 per sq ft.
 The DCCDL has started planning for the remaining 8 million sq ft development in the 'Downtown' project.
 Talking about other projects, Khattar said the DCCDL has completely leased its commercial project Cyber Park in Gurugram comprising 2.5 million sq ft area. It expects to earn a rental of about Rs 375 crore annually.
 The 12-acre project 'Cyber Park' has been developed at an estimated cost of about Rs 1,500 crore.
 The DCCDL currently has a rental portfolio of over 30 million sq ft with an annual rental income of over Rs 3,000 crore. It is currently developing 6.6 million sq ft projects across the country.
 DLF has developed around 153 real estate projects and an area of about 330 million square feet. It currently has 221 million sq ft of development potential across residential and commercial segment. MJH SHW
SHW

DLF to invest Rs 1500 cr on new commercial project in Gurugram

(Eds: Adding details) New Delhi, Feb 5 () Realty major DLF Ltd on Wednesday reported a 24 per cent increase in its consolidated net profit to Rs 414.01 crore for the quarter ended December despite fall in income.Its net profit stood at Rs 335.15 crore in the year-ago period.Total income rose to Rs 1,533.34 crore in the third quarter of 2019-20 from Rs 2,405.89 crore in the corresponding period previous year, DLF said in a regulatory filing.Despite fall in income, the company's net profit increased due to an exceptional gain of Rs 231 crore during the December quarter.DLF declared an interim dividend of Rs 1.20 per share."The company received good response for its ready to occupy premium project - The Ultima in Gurugram. It clocked sales of about Rs 800 crore from the Phase 2 launch; the project now is 90 per cent sold out. The company continues to remain focussed on monetisation of its completed inventory," DLF said in a statement.The rental business witnessed steady growth. The revenue of its rental arm DLF Cyber City Developers Ltd (DCCDL) stood at Rs 1,131 crore, with net profit at Rs 278 crore.On the housing business, DLF said: "Luxury segment is witnessing subdued demand currently. This trend may continue for a few quarters and will recover along with the economy".The company is now working towards re-positioning its finished inventory and bringing differentiated products according to the current market dynamics, DLF said."We plan to upgrade our existing plotted inventory to independent floors, which generally has shown better traction in the market. The current plan is to offer about 7 million sq ft of finished homes on its already developed plots. We expect to sell the same within from next fiscal and believe monetisation of this inventory will take next 18-24 months," the statement said.Additionally, the company is also evaluating launch of commercial products in select markets, it added.DLF has developed around 153 real estate projects and developed an area of about 331 million square feet. It has 192 million sq ft of development potential across residential and commercial segment. The group has an annuity portfolio of over 35 million sq ft, including office and retail space. MJH BAL

DLF Q3 net profit up 24% at Rs 414cr; income down 36 pc at Rs 1,533 cr

(Eds: Recasting overnight story) New Delhi, Feb 6 () Realty major DLF Ltd on Wednesday reported a 24 per cent increase in consolidated net profit at Rs 414.01 crore for the quarter ended December despite fall in income. Its net profit stood at Rs 335.15 crore in the year-ago period. Total income fell 36 per cent to Rs 1,533.34 crore in the third quarter of 2019-20 from Rs 2,405.89 crore in the corresponding period previous year, DLF said in a regulatory filing. Despite the fall in income, the company's net profit increased due to an exceptional gain of Rs 231 crore during the December quarter. DLF declared an interim dividend of Rs 1.20 per share. "The company received good response for its ready to occupy premium project - The Ultima in Gurugram. It clocked sales of about Rs 800 crore from the Phase 2 launch; the project now is 90 per cent sold out. The company continues to remain focussed on monetisation of its completed inventory," DLF said in a statement. The rental business witnessed steady growth. The revenue of its rental arm DLF Cyber City Developers Ltd (DCCDL) stood at Rs 1,131 crore, with net profit at Rs 278 crore. On the housing business, DLF said: "Luxury segment is witnessing subdued demand currently. This trend may continue for a few quarters and will recover along with the economy". The company is now working towards re-positioning its finished inventory and bringing differentiated products according to the current market dynamics, DLF said. "We plan to upgrade our existing plotted inventory to independent floors, which generally has shown better traction in the market. The current plan is to offer about 7 million sq ft of finished homes on its already developed plots. We expect to sell the same within from next fiscal and believe monetisation of this inventory will take next 18-24 months," the statement said. Additionally, the company is also evaluating launch of commercial products in select markets, it added. DLF has developed around 153 real estate projects and developed an area of about 331 million square feet. It has 192 million sq ft of development potential across residential and commercial segment. The group has an annuity portfolio of over 35 million sq ft, including office and retail space. MJH BAL RVK

DLF Q3 net profit up 24 pc at Rs 414 cr; income down 36 pc at Rs 1,533 cr

New Delhi, Dec 23 () Bengaluru-based Prestige Estates Projects Ltd's board has approved issuing 1.34 crore equity shares to Singapore's sovereign wealth fund GIC on preferential basis for Rs 434 crore.
 GIC held 4.36 per cent stake in the company as on September 30, 2019.
 The company's board has approved "issue and allotment of 1,34,41,654 equity shares at a price not less than floor price of Rs 323.22" on preferential basis to GAMNAT Pte Ltd, which is an affiliate of GIC, according to a regulatory filing by Prestige Estates.
 Shares of the company fell 0.65 per cent to Rs 345.20 apiece on Monday. 
 Prestige Estates will take shareholders' approval before allotting these shares to GAMNAT.
 In its 32 years of operations, Prestige Group has completed 236 real estate projects, comprising nearly 125 million sq ft of developable area, mostly in south India.
 Prestige Estates is also foraying into the Delhi-NCR market and has tied up with local developer Ace Group to launch its first housing project in Noida with an investment of around Rs 500 crore on construction.
 It has also announced a joint venture with DB Group to develop a large hotel and convention centre project at Aero City in the national capital with an investment of Rs 2,000 crore.
 GIC has been investing heavily in Indian real estate market. 
 It invested around Rs 9,000 crore to acquire around 33 per cent stake in DLF's rental arm DLF Cyber City Developers Ltd (DCCDL). MJH RVK

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

BI India Bureau

Top stocks to watch — DLF, Bajaj Finserv, Prestige, Brigade, Bajaj Auto, Asian Paints, Biocon, and others

Navdeep Yadav

Top stock movers — DHFL, Jet Airways, Avenue Supermarts, HDFC Bank, DLF, Tata Communications and others

Navdeep Yadav

DLF to invest Rs 1500 cr on new commercial project in Gurugram

PTI

DLF Q3 net profit up 24% at Rs 414cr; income down 36 pc at Rs 1,533 cr

PTI

DLF Q3 net profit up 24 pc at Rs 414 cr; income down 36 pc at Rs 1,533 cr

PTI

GIC to invest Rs 434 cr in Prestige Estates

PTI

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