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DLF Share Price Drops; Announced Kolkata Tech Park Sale

Updated on: Dec 3, 2024, 4:07 PM IST
DLF share price traded at ₹844.35 on Dec 3, down 0.56%. The company to sell Kolkata Tech Park 1 for ₹637 crore to RDB Primarc Techno Park LLP.
DLF Share Price Drops; Announced Kolkata Tech Park Sale
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On December 3, 2024, DLF share price opened at ₹860.00, up from its previous close of ₹849.10. However, at 11:07 AM, the share price of DLF was trading at ₹844.35, down by 0.56%.

Latest Developments 

DLF Ltd recently announced the sale of its Kolkata Tech Park 1 business undertaking. On November 29, 2024, its wholly-owned subsidiary, DLF Info City Developers (Kolkata) Ltd, entered into a definitive agreement to sell and transfer the IT park to RDB Primarc Techno Park LLP, an affiliate of Primarc & RDB Group. The transaction, executed on a slump sale basis, is valued at approximately ₹637 crore.

Kolkata Tech Park 1 is one of the largest IT parks in Eastern India, boasting a gross leasable area of approximately 1.49 million square feet. The property, certified as a LEED Platinum building by the US Green Building Council (USGBC), houses several global technology leaders, making it a prime asset in the region.

Financial Highlights for Q2 FY 2025 

DLF reported consolidated revenue of ₹2,181 crore in the second quarter of FY 2025, supported by strong operational performance. The company achieved gross margins of 45% during the period.

Net profit for the quarter stood at ₹1,387 crore, which included a reversal of deferred tax liabilities amounting to ₹606 crore, following the enactment of the Finance Act, 2024, which changed the tax rate on long-term capital gains.

Additionally, DLF reported new sales bookings of ₹692 crore, reflecting sustained demand for its properties.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 3, 2024, 11:50 AM IST

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