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DLF ends Rs 2 bn IPL sponsorship

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MUMBAI: Debt-ridden real estate company DLF has ended its costly association with cricket by ending its Rs 2 billion title sponsorship deal with Indian Premier League.

DLF had taken the title sponsorship of IPL in 2008 with the objective of establishing its brand presence across India.

"We have just stepped off the IPL. Sponsoring IPL over the last five years was a strategic decision wherein we wanted to establish our brand presence across India as the leading real estate player," DLF Group Executive Director Rajeev Talwar told PTI.

The real estate major had time till 28 July to renew sponsorship since it had the first right of refusal. The BCCI will now have to scout for a new title sponsor in wake of DLF walking out.

However, the company is planning to nurture other sports as part of its Corporate Social Responsibility programme.

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