DLF says Rakesh Jhunjhunwala holds stake in firm
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Jhunjhunwala was holding 1.19 crore share as of March 31, 2018 against 75 lakh share on April 1, 2017, media reports said.
Chairman KP Singh believes that the company would achieve faster growth in the development of offices and retail space on the back of its partnership with Singapore’s sovereign wealth fund GIC, according to a report by PTI.
However, he said the parent company DLF would also continue to build commercial projects, separate from the joint venture with the GIC.
Singapore’s investment firm had bought 33.34 per cent stake in DLF’s rental arm DLF Cyber City Developers Ltd (DCCDL) for about Rs 9,000 crore. DLF has the remaining 66.66per cent stake in the JV firm DCCDL.
“Real estate demand in the recent months has also received much needed impetus with the Credit Linked Subsidy Scheme (CLSS) for the middle income group under the Pradhan Mantri Awas Yojna (PMAY). Your company (DLF) is well placed to capitalise on these opportunities in the business development space,” he told shareholders.
The post DLF says Rakesh Jhunjhunwala holds stake in firm appeared first on MusicCosmoS.
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