DLF has sold its 25.9-acre IT SEZ in Kolkata, including the DLF Tech Park, to Srijan Group for ₹693 crore. This move aligns with DLF’s strategy to monetize non-core commercial assets and refocus on high-performing markets like Delhi-NCR and Chennai.
Real estate giant DLF has finalized the sale of its IT/ITeS Special Economic Zone (SEZ) in Kolkata for ₹693 crore to the Srijan Group, marking another significant step in its ongoing plan to unlock value from rent-generating commercial properties. The asset includes a 25.9-acre land parcel and the DLF Tech Park building, which offers over one million square feet of gross leasable space.
The transaction, disclosed in a regulatory filing, involves a definitive Master Framework Agreement with Srijan Realty Pvt Ltd and its subsidiaries. It is still subject to regulatory approvals and certain closing conditions, as outlined in the deal documentation.
This move reflects DLF’s broader strategy to monetize non-core assets and reinvest in growth-focused areas. Just months ago, in November, its joint venture arm DLF Cyber City Developers Ltd (DCCDL) divested another IT park in Kolkata to the Primarc and RDB Group for ₹637 crore. These back-to-back exits from the city’s tech park space indicate a realignment of DLF’s commercial portfolio.
DLF, through its JV DCCDL with Singapore’s sovereign wealth fund GIC, controls a significant share of high-end office spaces and malls, primarily across Delhi-NCR and Chennai. DLF holds a 66.67% stake in DCCDL, while GIC owns the remaining 33.33%. The joint venture has played a crucial role in the group’s annuity business, generating stable rental income from its vast commercial holdings.
As India’s largest real estate company by market capitalization, DLF has completed more than 185 projects and developed over 352 million square feet. With an additional 220 million square feet of potential development across residential and commercial verticals, the company continues to reshape its portfolio to maximize returns.
The latest Kolkata exit highlights DLF’s focus on optimizing its asset mix. While the group maintains a strong presence in residential development and commercial leasing, it’s sharpening its attention on high-performing, core markets. This approach improves capital efficiency and strengthens the firm’s long-term positioning in India’s evolving real estate landscape.
In a sector where flexibility and asset-light models are gaining ground, DLF’s shift away from specific SEZ holdings could signal broader trends in how large developers manage their portfolios in response to market dynamics.
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