DLF Limited (NSEI:DLF) has appointed three leading advisory firms - Morgan Stanley, KPMG and Shardul Amarchand Mangaldas & Co - as consultants to get its rental yielding commercial assets ready for a real estate investment trust (REIT) listing. The advisors will help the company manage the internal structuring needed to get assets listing- ready. "We have appointed consultants as there would be some amount of corporate structuring and reorganising to make the DLF Cyber City Developers Ltd. (DCCDL) rental platform REIT-ready.

This process will take about 10-12 months to complete. It is up to the shareholders to decide when they wish to launch the REIT," Sriram Khattar, managing director, DLF Rental Business, told ET. Giving updates on REIT to investors during the quarterly results call, DLF said that market indicators for REIT listing are favourable as there is enough liquidity in the capital markets.

"Low interest rate regime, efficient listing framework by the regulator and successful listing of two REITs give us faith that the market is ready for another REIT," it said. Shardul Amarchand Mangaldas & Co has been appointed as legal advisor while KPMG will be tax advisor. Deliberations are being held on key points such as corporate structure, capital structure and asset perimeters, said Company Executives.