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DLF rental arm prepares for REIT launch; ropes in consultants

DLF rental arm prepares for REIT launch; ropes in consultants
DLF s whole-time director Ashok Tyagi said the consultants have been appointed to restructure the business and be ready to launch the REIT whenever the two shareholders decide
PTI | January 30, 2021 | Updated 19:39 IST
DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC
Realty major DLF s rental arm DCCDL on Friday said it has appointed consultants, including banker, tax advisor and law firm, to prepare itself for the launch of its Real Estate Investment Trust (REIT) but the timing of the public issue will be decided by its shareholders. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC. While DLF holds 66.67 percent stake in the JV, the GIC has 33.33 percent shareholding. ....

Ashok Tyagi , Sriram Khattar , Morgan Stanley , Real Estate Investment Trust , Shardul Amarchand Mangaldas Co , Embassy Office Parks , Cyber City Developers Ltd , City Developers Ltd , Rental Business , Shardul Amarchand Mangaldas , Office Parks , Mindspace Business Parks , Embassy Office , அசோக் தியாகி , ஸ்ரீராம் காட்டார் , மோர்கன் ஸ்டான்லி , ரியல் எஸ்டேட் முதலீடு நம்பிக்கை , ஷார்துள் அமர்சந்த் மங்கல்தாஸ் இணை , தூதரகம் அலுவலகம் பூங்காக்கள் , சைபர் நகரம் டெவலப்பர்கள் லிமிடெட் , நகரம் டெவலப்பர்கள் லிமிடெட் , வாடகை வணிக , ஷார்துள் அமர்சந்த் மங்கல்தாஸ் , அலுவலகம் பூங்காக்கள் , மைண்ட்ஸ்பேஸ் வணிக பூங்காக்கள் , தூதரகம் அலுவலகம் ,

DLF restructures existing loans to lower interest costs, targets to save Rs 300 crore annually

DLF restructures existing loans to lower interest costs, targets to save Rs 300 crore annually
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“In March 2020, most of our loans were at 9% interest rate, by December, we had reduced it to 7.5%,” Ashok Kumar Tyagi, whole-time director at DLF Ltd, told ET. “Our existing lenders are offering aggressive rates. We believe the average interest rate should be around 7.5%.”
Agencies
DLF has developed 153 real estate projects with a total area of about 330 million sq ft.
NEW DELHI:
DLF Ltd, the country’s biggest real estate developer, is restructuring existing loans with a target of saving Rs 300 crore annually, taking advantage of the benign interest rate environment, said a senior company executive. ....

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