DLF settles Rs 8,700-cr payment with GIC

NEW DELHI: Realty major DLF has settled the entire Rs 8,700 crore amount payable to DLF Cyber City Developers Ltd (DCCDL), its joint venture with Singapore-based GIC, by transferring various completed commercial properties and land parcels as well as cash payment. With settlement of this dues, the company said it has completed the exercise of transforming its balance sheet and consolidation of all rental assets under the DCCDL. DLF holds 67% stake in DCCDL, while Singapore's sovereign wealth fund GIC holds 33%. PTI

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