DLF Share Price Rise on Signing ₹693 Crore Deal to Sell Kolkata IT SEZ to Srijan Group

DLF Limited has signed a Master Framework Agreement (MFA) with Srijan Realty Private Limited and its subsidiaries to sell its IT/ITeS Special Economic Zone (SEZ) located in Kolkata. The deal is valued at ₹693 crore and will be executed through a slump sale. The agreement was formalised on April 16, 2025.

As of 11:04 AM on April 17, 2025, shares of DLF Ltd were trading at ₹663.10, a 1.04% up and 23.24% over the past six months.

What the Transaction Includes

The sale involves a 25.90-acre freehold land parcel and the DLF Tech Park building. The total leasable area of the property stands at 10,54,357 square feet. The transfer will take place through a Business Transfer Agreement and conveyance deeds between DLF and Srijan Group companies.

Previous Transaction in Kolkata

This is the second IT park that DLF has sold in Kolkata. In November 2024, a wholly owned DLF subsidiary agreed to sell Kolkata Tech Park 1 to RDB Primarc Techno Park LLP for ₹637 crore, also through a slump sale.

Revenue and Compliance Details

The Kolkata SEZ being sold generated ₹86.26 crore in revenue in FY24, accounting for 2.11% of DLF’s total turnover. The buyer entities, Gangapurna Projects LLP and Makalu Builders LLP are subsidiaries of Srijan Realty. 

They are not part of DLF’s promoter or group companies. The transaction is not part of any scheme of arrangement and does not qualify as a “material undertaking” under the Companies Act, 2013.

Payment and Timeline

The entire consideration will be paid in cash, subject to adjustments as per the terms of the MFA. The transaction is dependent on certain conditions precedent, including regulatory approvals, consents, and other formal clearances. The deal is expected to close within 12 months, though the timeline can be extended if required.

Conclusion

DLF continues to divest non-core commercial assets, with this being its second IT park sale in Kolkata within a year.

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