Delhi-NCR based listed real estate developer, DLF Limited is selling its Kolkata IT SEZ park to Srijan Group for Rs 693 crore in a slump sale, the company said in a regulatory filing on April 16.
This is the second IT Park that DLF has sold in Kolkata. Prior to this, DLF Info City Developers (Kolkata) Ltd, a wholly owned subsidiary, had in November 2024 signed a definitive agreement to sell and transfer its Kolkata Tech Park 1 to RDB Primarc Techno Park LLP (an affiliate of Primarc & RDB group), on a slump sale basis for an aggregate consideration of Rs 637 crore.
The company said that the proposed transaction is to be undertaken by way of a slump sale through a Business Transfer Agreement or conveyance deed to be executed between the Company and Srijan Realty Private Limited and its subsidiary entities.
“… the Company has today April 16, 2025, entered into a definitive Master Framework Agreement (MFA) with Srijan Realty Private Limited and its subsidiary companies for sale of its IT/ITeS SEZ comprising freehold land parcel admeasuring 25.90 acres, situated in Kolkata along with constructed building namely DLF Tech Park with a gross leasable area of 10,54,357 square feet. The agreed consideration is Rs 693 crore subject to requisite adjustments as agreed in the MFA (‘Kolkata IT/ITeS SEZ Business’),” DLF said in a regulatory filing.
Also Read: DLF subsidiary sells Kolkata tech park to Primarc & RDB group for Rs 637 crore
The tech park has gross leasable area of 1.05 million square feet.
The proposed transaction is subject to certain conditions precedent, regulatory approvals, consents, and sanctions, the company said.
DLF said that the transaction is made as part of a business strategy to generate revenue, improving cash flow resulting in an increase in shareholders’ value.
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