DLF to Sell Holdings in Pune & Nioda IT SEZ for Rs 1300 crore

DLF one of the largest Indian Real estate has decided to sell out its major shareholding in two IT SEZs in Pune and Noida to Blackstone on a deal of Rs 900 crore.Akruti city and The 3C Company. According to the senior executive both the promoter companies that is Akruti City and the 3C Company have 30% each partnership which they want to sell it out. The deal done to clear out debt of $5million .Both the deals have been finally confirmed. The companies involved in deal were approached through email by ET out of which DLF cleared its stand of selling out non core assets. However no response came from other three companies. The current deal has been confirmed with a motive to reduce the burden of debt on company.

The following deal would help company is generating revenue of Rs 7000 crore in the next two years. The deal includes the selling of leased and also the site under construction. The IT park in Noida has a total land of 1.3 million sq ft. The company planned to make up Rs 4500 by selling its non core assets. Earlier company has generated Rs 3000 crore in last 18 months.DLF, India is quite hopeful that in the next two to three years company will be able to mange to reduce loaded debt.