DLF in plans to go with GIC for REIT

08 Apr 2019 CW Staff

DLF, the real estate major, is reportedly pulling out all the stops to become a debt-free company as it is in plans to team up with GIC to float a part REIT in future. However, the REIT listing may have to wait.

In the near future, GIC and DLF may have reportedly decided to do a part REIT. However, the company confirmed that the REIT listing may not happen in the coming two-three years.

Reports suggest that, DLF does not see it as an overhang anymore, thus terming the debt issue as a yesterday’s story. The debt load post qualified institutional placement (QIP) and promoter infusion is seen at close to Rs 20 billion.

That said, the company will be reportedly going ahead with the next round of construction project. Also, it is aggressively expanding on the commercial leasing front. The next phase of Central Delhi project is also expected to start soon.

The QIP proceeds and further infusion of Rs 25 billion from promoters against the issue of warrants would help the firm significantly reduce debt that stood at around Rs 72 billion as on December 31, 2018. 40 per cent stake in rental arm DLF Cyber City Develppers had been sold by promoters KP Singh and his family for Rs 119 billion in August 2017. This deal included sale of 33.34 per cent stake in DCCDL to Singapore's sovereign wealth fund GIC for Rs 89 billion and buyback of the remaining shares worth Rs 30 billion by DCCDL.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..