DLF to Sell Kolkata Tech Park to RDB Primarc for ₹637 Crore

1 Dec 2024 , 06:40 PM

The subsidiary of DLF Ltd, DLF Info City Developers (Kolkata) Ltd has completed the sale of Kolkata Tech Park business to RDB Primarc Techno Park LLP. This transaction, worth around ₹637 crore, was conducted by slump sale of the whole property in “as is, where is” basis.

Kolkata Tech Park: IT park in eastern India; gross leasable area of 1.49 million square feet; BEST-IN-CLASS. Certified by US Green Building Council as LEED Platinum; global leaders in technology reside here.

Sriram Khattar, Vice Chairman and MD, DLF Rental Business: Quality tenant partnership and asset management will continue to focus on building shareholder value. Sidharth Pansari, MD of Primarc Group, said, “We are excited about this acquisition, which will further strengthen Bengal’s tech ecosystem.”

The deal is in line with the growth and diversification strategy of Primarc Group and will leverage DLF’s expertise in asset management.  JLL was the sole transaction advisor, while Shardul Amarchand Mangaldas & Co and PwC provided legal and financial advisory services, respectively. This sale is an example of DLF’s strategy to unlock value from its core assets by complementing Bengal’s technology-oriented growth.