Kolkata / Gurugram, March 2026 – DLF has concluded binding agreements to exit its Kolkata commercial real estate presence through two parallel transactions with Srijan Group entities totalling approximately ₹670 crore, as the listed developer continues to focus its rental business on core markets under the DLF Cyber City Developers Ltd platform. The transactions cover DLF TechPark II – an operational IT/ITeS SEZ with approximately 10.54 lakh sq ft of gross leasable area along with an adjacent 8.15-acre freehold land parcel, sold for ₹409.86 crore, and a separate 17.75-acre vacant land parcel transacted for ₹260 crore. The business transfer agreement was signed on February 3, 2026, with completion expected within four months.
The Asset Profile and the Buyer
DLF TechPark II is an operational Grade-A IT park within New Town, Kolkata’s primary technology and ITeS corridor. The undertaking generated ₹66.88 crore in turnover in FY25. The buyers – Makalu Builders LLP and Gangapurna Projects LLP are entities associated with the Srijan Group, a Kolkata-based real estate developer with an established presence in residential and commercial development across West Bengal. The acquisition of both an operational asset and a significant vacant land parcel in the same corridor gives Srijan a material footprint in New Town’s commercial segment.
DLF’s Strategic Rationale
DLF’s exit from Kolkata is consistent with its broader portfolio rationalisation strategy. Its DCCDL rental business, which operates DLF’s income-producing commercial assets, has achieved a zero gross debt position and reported 18% year-on-year revenue growth in Q3FY26 with approximately 94% occupancy across its portfolio. The sale of non-core assets such as the Kolkata SEZ and vacant land allows capital to be redeployed into higher-conviction markets and into new development under the DCCDL umbrella.
Location Context: New Town’s IT Corridor and Srijan’s Opportunity
New Town, Kolkata, has emerged as the city’s primary destination for IT, ITeS, and back-office occupiers, anchored by large campuses of major technology firms and supported by improving metro connectivity. The 17.75-acre vacant land parcel acquired by Srijan represents a significant development opportunity in a corridor where Grade-A supply remains constrained relative to demand from technology and BFSI occupiers seeking modern, well-specified office space.
