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DLF’s JV to invest Rs 1,900 crore in Gurugram project

DLF’s JV to invest Rs 1,900 crore in Gurugram project

DLF has entered into second joint venture (JV) with HINES. DLF Home Developers (DHDL), a wholly owned subsidiary of the company, and Green Horizon Trustee (an affiliate of HINES) have entered into a JV for developing a high-end commercial project in Gurugram.

DHDL will hold 67% stake in the joint venture, while 33% will be held by HINES. The total investment by the JV partners in this project is about Rs 1,900 crore in accordance with the independent valuation undertaken by a Category-1 Merchant Banker. HINES will initially own 33% equity share of the JV with an option to increase its stake up to 49%.

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.

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