DLF Sells Kolkata Assets for ₹670 Crore: A Strategic Move

India’s real estate sector is witnessing a steady shift as large developers focus on asset monetisation and balance sheet strengthening. In this context, DLF sells SEZ asset in Kolkata as part of a strategic move to streamline operations. The company has entered into definitive agreements to divest its IT and ITeS SEZ business and a separate land parcel in Kolkata to Srijan Group entities. This transaction highlights the growing interest in commercial real estate assets and reflects changing priorities among established developers.

The deal involves the sale of DLF’s IT and ITeS Special Economic Zone undertaking in Kolkata, along with a sizeable land parcel. The total transaction value stands at nearly ₹670 crore, subject to agreed adjustments. Under this arrangement, DLF to sell IT ITeS SEZ asset in Kolkata includes the transfer of the operational SEZ property as well as vacant land through two separate agreements. This structured approach allows both parties to clearly define asset value and responsibilities.

DLF has executed a business transfer agreement for the sale of its SEZ undertaking, known as DLF TechPark II. The asset includes a fully constructed commercial building and a freehold land parcel measuring approximately 8.15 acres. The gross leasable area of the SEZ building is about 10.54 lakh square feet. The agreed consideration for this portion of the transaction is around ₹409.86 crore, subject to final adjustments as per contractual terms. This forms the core of the Kolkata IT ITeS SEZ sale.

In addition to the SEZ transaction, DLF has also agreed to sell a separate vacant land parcel in Kolkata. This land measures roughly 17.75 acres and is being sold to another Srijan Group entity under a separate agreement. The consideration for this land parcel is about ₹260 crore, again subject to agreed adjustments. Together, these transactions complete the DLF land parcel Kolkata divestment and contribute to the overall deal value.

The buyer entities involved in the transaction are part of the Srijan Group, a Kolkata-based real estate developer. Through its subsidiaries, the group is acquiring both the SEZ asset and the vacant land parcel. The DLF Srijan Group deal does not involve any promoter-level connections between the two companies. DLF has clarified that the buyer entities do not belong to its promoter or promoter group, ensuring transparency in the transaction structure.

From a financial perspective, the Kolkata SEZ business represents a relatively small portion of DLF’s overall operations. In FY25, the SEZ undertaking recorded a turnover of about ₹66.88 crore. This included gross rental income of approximately ₹41.74 crore and maintenance and other income of around ₹25.14 crore. The contribution accounted for nearly 1.49% of DLF’s total turnover. The DLF real estate asset monetisation Kolkata strategy allows the company to unlock capital from non-core assets.

DLF has stated that the SEZ undertaking is being transferred through a slump sale mechanism. The transactions do not qualify as related party transactions and are not part of any scheme of arrangement. There will be no change in DLF’s shareholding pattern following the completion of the deal. These disclosures ensure compliance with regulatory requirements and provide clarity to investors tracking Indian real estate news developments.

The completion of both transactions is subject to the fulfilment of certain conditions precedent. These include obtaining necessary regulatory approvals, consents, and sanctions as outlined in the agreements. Subject to these conditions, DLF expects the transaction to be completed within approximately four months from February 3, 2026. This timeline may be extended if both parties agree, in line with standard industry practices.

Following the announcement of the asset sale, DLF’s shares witnessed a positive response in the market. The stock closed higher on the BSE, reflecting investor approval of the company’s decision to monetise assets and strengthen its financial position. The market reaction indicates confidence in DLF’s long-term strategy and its ability to manage capital efficiently amid evolving real estate dynamics.

This transaction reflects a broader trend in the Indian real estate sector, where developers are reassessing asset portfolios. The DLF sells TechPark II Kolkata for 670 crore deal demonstrates how mature commercial assets continue to attract interest from regional developers. It also highlights how established players are reallocating capital toward core residential and mixed-use developments with higher growth potential.

DLF’s decision to sell its Kolkata IT and ITeS SEZ asset and a vacant land parcel to Srijan Group entities for nearly ₹670 crore marks a strategic step in asset monetisation. The deal includes DLF TechPark II and two land parcels through separate agreements. With limited revenue contribution from the SEZ business, the sale helps unlock capital. The transaction is compliant, non-related, and positively received by the market, reflecting confidence in DLF’s long-term strategy.