DCCDL will also buy back Rs3,000 crore of preference shares held by promoters in two instalments, according to the announcement. Photo: MintBengaluru: DLF Ltd, India’s largest real estate firm, posted a 94% drop in net profit to Rs12.57 crore in the September quarter from a year earlier. During the quarter, DLF announced what was billed as a potentially game-changing transaction in which an affiliate of Singapore’s sovereign wealth fund GIC Pte. DCCDL will also buy back Rs3,000 crore of preference shares held by promoters in two instalments, according to the announcement. Along with some additional fund-raising, the stake sale will see capital infusion of nearly Rs13,000 crore in DLF, the firm said.

Source: Mint November 10, 2017 14:26 UTC