Speaking to CNBC-TV18, Saurabh Chawla, Senior ED Finance at DLF said this is a year- old transaction which DLF sees as a step forward to create a pure play real estate entity.
Analysts polled by CNBC-TV18 estimate that footfall growth may go higher by 23.5 percent at 15.05 million compared to 12.2 million (YoY). Footfall growth is likely to be aided by new screens. The company has added 25 Screens this quarter.
DLF has been selling non-core land parcel and businesses for the last three-four years to focus on its core real estate business as well as to improve its cash flows and reduce debt.
PVR on Tuesday closed a deal acquiring DLF's DT Cinemas for Rs 500 crore, which marked yet another consolidation in the movie exhibition space in India.