DLF to Invest ₹3,750 Crore in Everstone JV; Shares Fall 1.4%

Mumbai, November 06: DLF Limited has entered into a binding and exclusive term sheet with Singapore-based investment manager Everstone Group to form a joint venture (JV) for investing in IREO Private Limited and other companies in India held by IREO group funds.

Under the proposed arrangement, DLF intends to invest approximately ₹3,750 crore for a majority stake in the joint venture. The venture will hold an economic interest in the IREO India companies, which have investments from global investors.

Proposed JV to Acquire Stake in IREO India Companies

Under a separate binding and exclusive term sheet with the IREO Funds, the proposed joint venture intends to invest the funds to acquire at least 20% stakes in the IREO India companies, together with certain governance-related rights.

Following the proposed transaction, the joint venture’s aggregate economic interest in the IREO India companies is expected to be approximately 40%, with the IREO Funds holding the remaining interest.

DLF said the proposed investment presents an opportunity to develop projects across Delhi, Gurugram and other regions. The companies will be operated by an independent management team under an agreed business plan and governance framework, with guidance from DLF and Everstone.

The transaction is subject to due diligence, applicable corporate, regulatory and third-party approvals, and execution of definitive documents. Closing is expected during 2027.

About DLF

DLF Limited is one of India’s leading real estate developers, with close to eight decades of operating history. The company has developed more than 185 real estate projects spanning approximately 352 million square feet. Its business includes residential development and the development and leasing of commercial and retail properties.

Conclusion

The proposed ₹3,750 crore investment marks a strategic expansion of DLF’s real estate portfolio through a partnership with Everstone Group. The joint venture aims to unlock development opportunities across the IREO India portfolio, with completion expected in 2027, subject to the required approvals and closing conditions.

Source:

• https://www.bseindia.com/stock-share-price/dlf-ltd/dlf/532868
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/f2801207-3eca-4cfc-bc4a-56258acd4d24.pdf