After months of negotiation, India’s largest real estate
firm, DLF, is likely to announce its 40 per cent stake sale
Cyber City Developers (DCCDL), for Rs 13,000 crore, to an affiliate of Singapore’s GIC
in its next board meeting on August 25.
would bring some relief to DLF, which reported a decline of 58 per cent in its consolidated net profit
at Rs 109.01 crore for the quarter ended June.
According to sources in the company, after the deal gets the final nod from the board, GIC
would seek approval from the CCI, and then DLF
would approach shareholders
for a go-ahead.