DLF has settled the entire Rs 8,700 crore amount payable to DLF Cyber City Developers (DCCDL), its joint venture with Singapore-based GIC, by transferring various completed commercial properties and land parcels as well as cash payment. With settlement of this dues, the company has completed the exercise of transforming its balance sheet and consolidation of all rental assets under the DCCDL.
DLF is one of India’s biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.