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DLF To Sell Kolkata IT SEZ To Srijan Group For Rs.693 Crore

Synopsis:

DLF Ltd signed a Rs.693 crore deal with Srijan Group to divest its Kolkata IT SEZ spanning 25.9 acres. The SEZ contributed Rs.86.26 crore to FY24 revenue. The deal may affect the short-term DLF share price.


DLF Ltd has signed a definitive agreement to sell its IT/ITeS Special Economic Zone (SEZ) in Kolkata to Srijan Group for Rs.693 crore. The transaction includes 25.9 acres of freehold land and the DLF Tech Park, which offers a gross leasable area of over 10.54 lakh square feet. The slump sale was formalized on 16 April 2025 and is expected to close within 12 months, subject to regulatory approvals and conditions outlined in the agreement.

Also read: BHEL Signs Tech Deal With BARC to Cut Green Hydrogen Costs

DLF LIMITED

Trade

669.413.15 (2.00 %)

Updated - 17 April 2025
673.20day high
DAY HIGH
656.50day low
DAY LOW
3423114
VOLUME (BSE)

Key Takeaways

  • DLF is selling its Kolkata IT SEZ to Srijan Group for Rs.693 crore

  • The deal includes 25.9 acres of freehold land and DLF Tech Park

  • The Tech Park spans 10.54 lakh sq. ft. of gross leasable space

  • The SEZ generated Rs.86.26 crore in revenue in FY24

  • Srijan subsidiaries Gangapurna Projects and Makalu Builders are acquirers

Also read: UltraTech Cement Acquires 26% Stake in Solar SPV for Rs.25.5 Crore

Asset Details and Deal Structure

The asset in focus comprises DLF’s IT/ITeS SEZ located in Kolkata, developed as a tech infrastructure hub. The property includes the DLF Tech Park building and an adjoining land parcel. The SEZ generated Rs.86.26 crore in revenue during FY24, contributing 2.11% to DLF’s consolidated turnover. The deal will be executed through a business transfer agreement and supporting conveyance deeds.

DLF clarified that the transaction does not fall under any scheme of arrangement and is not classified as a material undertaking under the Companies Act, 2013. The entire Rs.693 crore consideration will be paid in cash, subject to final adjustments agreed in the master framework agreement.

Summary Table: DLF SEZ Sale to Srijan Group

Particulars

Details

Buyer

Srijan Group (via Gangapurna & Makalu)

Seller

DLF Ltd

Deal Value

Rs.693 crore

Structure

Slump sale

Land Area

25.90 acres (freehold)

Building Included

DLF Tech Park

Gross Leasable Area

10.54 lakh sq. ft.

FY24 Revenue from SEZ

Rs.86.26 crore

Deal Completion Timeline

Within 12 months (subject to approvals)

This divestment allows DLF to streamline its asset portfolio and focus on its core real estate ventures. While the revenue impact remains marginal, the shift could influence investor sentiment and short-term movement in the DLF share price. As the market digests the transaction details, close attention may be paid to the operational reallocation and its effect on overall earnings. Over the coming months, changes in DLF share price may reflect evolving market perspectives on the strategic direction of the company.

Also read: Zydus Lifesciences Invests in Feldan to Boost Drug Delivery Innovation

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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