DLF has recently entered into a JV with Singapore’s sovereign wealth fund GIC to develop rental properties in India. This occurred post the real estate developer promoters sold 33.34 per cent worth of stake to GIC. According to reports, DLF is looking forward to an infusion of Rs 13,000 crore by December 2017. While Rs 10,500 crore worth of investment is expected from the promoters, the remaining Rs 3,000 crore will be raised through institutional investors. This amount will then be employed for reduction of their debt, which will come down substantially from Rs 20,500 crore to Rs 6,000 crore; however this does not include the company’s debt from DLF Cyber City Developers (DCCDL). Reportedly, DLF’s net debt stood at almost Rs 26,000 crore in the June quarter, Rs 5,500 crore of which could be attributed to DCCDL. DLF’s promoters sold 40 per cent stake in DCCDL – the biggest deal in India’s realty space – for Rs 11,900 crore. After this deal, DLF will have 66.6 per cent stake in DCCDL.