DLF Limited invests Rs 496.73 crore to fully acquire DLF Urban from Reco Greens

DLF Limited invests Rs 496.73 crore to fully acquire DLF Urban from Reco Greens

DLF Home Developers Limited (DHDL), wholly-owned subsidiary of real estate developer DLF Limited, has completely acquired DLF Urban Private Limited (DUPL), after buying the 49.997 percent from Reco Greens Pte Limited for Rs 496.73 crore, the company said.

Following this,  the holding of DHDL in the share capital of DUPL has increased from 50.003 percent to 100 percent. “Consequently, DUPL has become a wholly-owned subsidiary of DHDL and, therefore, of the company,” the company said.

"...we wish to inform you that as a strategic investment decision, DLF Home Developers Limited (DHDL/Buyer), a material wholly-owned subsidiary of DLF Limited (Company) has acquired 49.997 percent of the total paid-up equity share capital and compulsorily convertible debentures held by Reco Greens Pte. Limited (‘Reco’/ ‘Seller’) in DLF Urban Private Limited (DUPL), a subsidiary of DHDL...," the company said in a regulatory filing on March 25.

Following the above acquisition, the holding of DHDL in the share capital of DUPL has increased from 50.003 percent to 100 percent. “Consequently, DUPL has become a wholly-owned subsidiary of DHDL and, therefore, of the company,” the company said.

Reco Greens is an affiliated company of Singapore's sovereign wealth firm GIC.

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The company said that the acquisition was executed through a securities purchase agreement (SPA) on March 25, 2025 and involved the purchase of 46.39 lakh equity shares and 3.2 crore Series D compulsorily convertible debentures (CCDs). The transaction was based on valuations by Price Waterhouse & Co LLP, Jain Jindal & Co, and Samarth Valuation Advisory LLP.

DUPL is primarily engaged in the business of construction, development and sale of integrated townships, residential houses and apartments. DUPL operates in the real estate sector and has developed the luxury residential project, One Midtown in Kirti Nagar area of West Delhi.

Last week DLF Ltd had said that it has plans to invest approximately Rs 20,000 crore in coming years to finish the construction of its ongoing residential projects. It had said that the company expects to generate a total surplus cash potential of approximately Rs 43,000 crore from these completed projects.