DLF Share Price Drops; Announced Kolkata Tech Park Sale

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.

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