Mon, Aug 13, 2012
DLF to divest Mumbai land for Rs. 2700 Cr.

New Delhi, August 13, 2012: DLF Ltd., India's largest real estate company, today announced that the company and two of its subsidiaries have entered into an agreement with Lodha Developers Ltd. for sale of their stake in Jawala Real Estate Private Ltd. for an estimated enterprise value of approximately Rs.2,700 crore. The transaction is expected to be completed by the end of October 2012.

"This is an important step in the Company's strategy to divest certain non-core assets and continue its focus on core business.  The Company's stated objective to divest non-core assets is on track for the current year", said DLF spokesperson.

After completion of the divestment, which is subject to fulfilment of certain conditions precedent by the parties and receipt of amounts due under the agreement, Jawala will cease to be subsidiary of the Company.

For further information please contact:

Sanjey Roy
Vice President
Corporate Communications
DLF Ltd., Sanad Marg
New Delhi - 110 001
M. No. 9312069104 | Tel No. 011-42102111


distributed by