DLF Sells Kolkata IT Park to Boost Shareholder Value

DLF's joint venture, DCCDL, has sold its IT park in Kolkata to Primarc and RDB group for Rs 637 crore. This strategic sale is aimed at monetizing rent-yielding assets and enhancing shareholder value. The IT park, a major hub in eastern India, will bolster Bengal's tech ecosystem.

Realty major DLF, through its JV firm DCCDL, has sold an IT park in Kolkata to Primarc and RDB group for Rs 637 crore. This move aims to monetize rent-yielding assets, reflecting value embedded in its core properties.

DLF Cyber City Developers Ltd, a collaboration with Singapore's GIC, boasts a significant portfolio focused on Delhi-NCR and Chennai. They agreed to transfer ownership of Kolkata Tech Park 1 to RDB Primarc Techno Park LLP, enhancing shareholder value.

The IT park, a major technology hub in eastern India, showcases DLF's asset management prowess while supporting the dynamic Bengal economy, marking a pivotal growth step for Primarc and RDB groups.

(With inputs from agencies.)