DLF Cyber City Developers Limited (DCCDL), a material subsidiary of DLF Limited, has successfully raised ₹1,100 crore through the issuance of Non-Convertible Debentures (NCDs) in a private placement. This significant financial move was disclosed in a recent filing to the stock exchanges.

Key Details of the NCD Issuance

• Issue Size: 1,10,000 NCDs
• Face Value: ₹1.00 lakh per NCD
• Total Amount Raised: ₹1,100.00 crore
• Coupon Rate: 6.92% per annum, payable quarterly
• Nature of NCDs: Senior, rated, listed, secured, redeemable, transferable, and rupee-denominated

Approval and Disclosure Process

The Securities Allotment Committee of DCCDL's Board of Directors approved the allotment of these NCDs. As per regulatory requirements, DCCDL has made the necessary disclosure to BSE Limited, where its NCDs are listed.

Parent Company Notification

DLF Limited, the parent company of DCCDL, informed the stock exchanges about this development. The company received the intimation from DCCDL at 13:20 hours on the same day and promptly communicated it to both BSE Limited and the National Stock Exchange of India Limited.

Implications and Market Position

This successful NCD issuance by DCCDL demonstrates the company's strong market position and ability to raise substantial funds at competitive rates. The 6.92% coupon rate indicates investor confidence in the company's financial stability and growth prospects.

The funds raised through this NCD issuance are likely to strengthen DCCDL's financial position, potentially supporting its ongoing projects and future growth initiatives in the real estate sector.

As a material subsidiary of DLF Limited, DCCDL's financial activities have significant implications for the parent company's overall financial health and market perception. This successful fundraising effort may positively impact investor sentiment towards both DCCDL and DLF Limited.

Investors and market analysts will be keenly watching how DCCDL utilizes these funds and the impact on its future financial performance and growth strategies.

DLF Limited , India's largest listed real estate company, has made a spectacular entry into Mumbai's residential market with its new project 'The Westpark'. The development has already generated over ₹2,300.00 crore in sales, marking a significant milestone for the real estate giant.

Strong Demand and Swift Sellout

DLF Home Developers Ltd., a wholly-owned subsidiary of DLF Ltd., in partnership with Trident Realty, announced the complete sellout of all four towers launched as part of Phase 1 of 'The Westpark'. The project, located off Link Road in Andheri West, Mumbai, experienced overwhelming demand, with the entire inventory of Phase 1 selling out in less than a week.

Project Details

'The Westpark' is a landmark residential development spanning approximately 5.18 acres, part of a larger 10-acre master plan. Key features of the project include:

• Eight architecturally distinctive towers (four in Phase 1)
• 37-storey towers offering a total of 416 residences in Phase 1
• A mix of 3 and 4 BHK residences ranging from ~1,125 to ~2,500 sq. ft. (carpet area)
• Limited number of exclusive penthouses
• 845 dedicated car parking spaces in Phase 1

World-Class Design and Amenities

The project boasts an impressive lineup of international design expertise:

• Architecture by HB Design
• Structural expertise from Thornton Tomasetti
• Interiors by BLINK
• Landscaping by SHMA

Residents will enjoy a host of premium amenities, including:

• A ~6,000 sq. metre landscaped podium called the 'Eco Deck'
• A signature 25-meter pool
• A ~50,000 sq. ft. lifestyle and wellness hub
• Fitness and yoga studios, meditation decks, and co-working spaces
• Private bowling alley, VR gaming zones, and an indoor badminton court
• Half Olympic-size swimming pool and a ~1.2-kilometre walking track

Strategic Location and Connectivity

'The Westpark' is strategically located in Andheri West, offering excellent connectivity:

• Close proximity to Western Express Highway, SV Road, and New Link Road
• Easy access to upcoming developments like the elevated JVLR and Coastal Road
• Walking distance from metro stations

Management's Perspective

Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd., commented on the success: "Our entry into Mumbai represents a significant strategic milestone for DLF. We are both humbled and gratified by the overwhelming response, with the inventory for Phase 1 of the project being completely sold out in less than a week, a remarkable outcome in a market typically characterised by gradual absorption."

The success of 'The Westpark' not only marks DLF's strong entry into Mumbai's residential market but also highlights the company's ability to deliver premium residential offerings that resonate with discerning homebuyers. This project is set to become a benchmark for luxury living in Mumbai, combining world-class design, strategic location, and comprehensive amenities.