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DLF Preps for Public REIT, Hiring KPMG and Morgan Stanley Posted on 01/30/2021 DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF and Singapore’s GIC Private Limited. DLF Cyber City Developers owns and operates a 35 million square-foot rental portfolio. The rental unit of DLF Ltd. hired consultants as it prepares for a real estate investment trust (REIT). DLT hired Morgan Stanley as banker, Shardul Amarchand Mangaldas & Co as legal advisor, and KPMG as financial and tax advisor. DLT is impacted by the coronavirus pandemic. In a recent quarter, DLF Cyber City Developers ent...

The realty major reported 9% rise in consolidated net profit to Rs 452 crore on 15% jump in net sales to Rs 1543 crore in Q3 FY21 over Q3 FY20.Consolidated profit before tax came rose 5% to Rs 386.76 crore in Q3 FY21 from Rs 368.61 crore in Q3 FY20. Current tax expense fell 26.2% year on year to Rs 104.24 crore in Q3 FY21. EBITDA jumped 49% to Rs 624 crore in Q3 FY21 from Rs 419 crore in the same period last year. DLF said demand in the residential business is improving, aided by a low-interest cost regime, various government incentive initiatives and quality supply with affordability. During...

Developers raises Sh1.3 billion in Nairobi housing project sales Thursday January 28 2021 By BONFACE OTIENO Summary Clay City Developers Limited has sold about six percent of its 5,200 affordable houses located at Clay City on Thika Road in Nairobi, raising Sh1.3 billion from the sale. The Clay City project, which sits on 36 acres is being built through a joint venture between Housing Finance (HF) Development and Investment and Clay Works Limited. The Sh11 billion project is being funded by a mix of debt, equity from foreign funds and contractor financing. Clay City Developers Limited has sol...

Nifty, Sensex continues to rise – Monday closing report Moneylife Digital Team / IANS  0 We had mentioned in previous week’s closing report that Nifty, Sensex were trending higher. On Monday, the major indices continued to climb higher. On the NSE, there were 1,357 advances, 549 declines and 341 unchanged.   The trends of the major indices in the course of Monday’s trading are given in the table below:     DLF plans to acquire 51.8% stake in Fairleaf, a joint venture company. DLF Cyber City Developers holds a 48.2% stake in Fairleaf Real Estate Private Limited.    Reliance Indust...

Read more about Sensex, Nifty scale record high on Business Standard. Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 366.54 points or 0.78% at 47,340.08. The Nifty 50 index was up 106.30 points or 0.77% at