Block deal in real estate firm DLF to be executed by an exiting promotor at a 3% discount
DLF, a known real estate developer is planning to conduct a block deal on August 1st worth Rs 1,086.2 crore. They are offering a 3 percent discount compared to the market price. In the quarter that ended in June 2023, DLF exceeded analysts’ expectations by generating a profit of Rs 526.11 crore. As part of their re-entry, into the Mumbai market, DLF has partnered with Trident Group. Together they plan to launch a project in Andheri West spanning over nine lakh sq ft. The company is investing Rs 400 crore as equity, for this development initiative.