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INDIA BUSINESS WORLD - FEBRUARY 1st - FEBRUARY 15th - 2008


INDIABULLS PICKS UP DLF'S STAKE IN DELHI PROJECT

Indiabulls Real Estate has said that it has acquired the stake of DLF, country's largest realty firm, in Tehkhand residential project at South Delhi for an undisclosed amount. DLF and Indiabulls had formed a JV firm, Kenneth Builders and Developers, in 2006 to develop a high-end housing project in South Delhi. Both companies have equal stake in the project. The acquisition was made through Indiabulls Infrastructure (IIL), a subsidiary of Indiabulls Real Estate, the company informed the BSE. With this acquisition, IIL now owns 100% stake in Kenneth Builders & Developers.

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