Debt-free status for residential operations positive for DLF

Investors should await timeline for fund infusion and extent of equity dilution

Three years after the plan to sell the 40 per cent stake held by promoters in rental assets housed under DLF’s subsidiary, DLF Cyber City Developers (DCCDL), was initiated, DLF and its promoters announced that they have struck a deal. Reco Diamond, an affiliate of GIC Real Estate of Singapore will be buying 33 per cent stake of promoters in DCCDL, while the rest will be bought by DCCDL over the next one year — total value Rs 11,900 crore.
 
An analyst at a domestic brokerage says the deal is positive for DLF, though a large part of it