"The customers had entered into a three-year contract with us. If we have to sell the apartments at a discounted rate, the customers who are backing out should make up for it," an official said. "If DFL tries to re-sell its apartments in the open market, it will have to reduce prices by a further 10-15 per cent. The new buyers know the expected supply is more than demand," said Rupesh Sankhe, equity analyst, Centrum Broking.
"We have not laid off anything. The lay-off could happen in future in case the demand further goes down," DLF chairman K P Singh said at an Assocham event in New Delhi. He clarified that as of 'today' DLF has not laid off anybody.
DLF has wind power plants in four states with total installed capacity of 227 MW.
In July, the company announced its buyback plans at a maximum price of Rs 600 a share. DLF will buy a maximum of 22 million shares, or 11 per cent, of the 202 million shares held by the public. On October 1, the DLF board approved the company's announcement on buyback of shares.
The order followed complaints against DLF Gurgaon Home Developers.
DLF is paying $200m for a controlling stake in Amanresorts. The deal comes at a time when Indian automotive companies Tata Motors and Mahindra & Mahindra are bidding for Ford's luxury Jaguar and Land Rover marques.
The funds will be utilised primarily to reduce debt, which stood at Rs 21,350 crore (Rs 213.5 billion) as on December 31, 2012.
This is one of the rare orders by Sebi that bars a bluechip and its top promoter/executives from market.
The company had posted a net profit of Rs 138.51 crore (Rs 1.38 billion) in the year-ago period, DLF had said in a statement.
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said.
Real estate major DLF plans to leverage the power of cricket to enhance its brand image across the country and has earmarked Rs 100 crore investment (Rs 1 billion) in next two years on sponsorship, cultural events and advertisements. \n\n
The Prime Minister's Office on Wednesday sought to dismiss the alleged nexus between realty giant DLF and Priyanka Gandhi's husband Robert Vadra as 'false'. An affidavit filed by PMO Joint Secretary Dheeraj Gupta before the Lucknow bench of the Allahabad high court termed as "false, vexatious and based on hearsay" the allegations about DLF having extended undue favours to Robert Vadra.
As per Arjun Modhwadia's memorandum listing out land allotment at a meagre rate to industrialists in Gandhinagar without an auction, DLF was given 1,01,200 sq mt of land in the capital at Rs 5000 per sq mt, when the prescribed stamp duty rate was Rs 19,000 per sq mt and the market price was Rs 30,000 per sq mt. This allotment, Modhwadia contended, cost the exchequer a whopping Rs 253 crore
Two top Haryana officers on Thursday sparred over cancellation of Robert Vadra-DLF land deal, with the Town and Country Planning head T C Gupta claiming there were "factual inaccuracies" in the orders by Ashok Khemka who stood by his decision and said the aggrieved parties were free to move court.
Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have emerged as top gainers among largecap realty stocks over the past month, with gains ranging from 29 per cent to 33 per cent. Strong ongoing sales trends in Mumbai's core market, record bookings in the January-March quarter, and healthy guidance for 2024-25 (FY25) have propelled these companies, which derive the majority of their revenues from India's financial capital.
The accounting and audit fraternity clearly wants to disassociate itself from the DLF-Vadra saga.
DLF has long been embroiled in a controversy over a deal that brought windfall profits to Robert Vadra, son-in-law of United Progressive Alliance Chairperson Sonia Gandhi.
DLF, which will enter the capital market on June 11 with its public issue, announced on Friday an investment of Rs 3,000 crore (Rs 30 billion) for developing two hotels and a service apartment in Kolkata.
According to DLF, the company has a land bank of 10,255 acres, of which 70% is in the metro cities, with 50% being in the National Capital Region alone.
Is looking to raise Rs 3,000 cr.
DLF, the country's largest realty firm, is eyeing the India franchise rights of ultra luxury brand Salvatore Ferragamo. The Italian brand's original franchise partner, Sports Station India, has decided to exit the business and instead concentrate on premium brands such as Levi's and Dockers.
In the midst of a tax probe into finances of IPL, authorities have issued notices to several sponsors of the first edition of the Twenty20 event, including DLF, Adidas and Religare for non-payment of service tax.
DLF will use its IPO proceeds in part to acquire land, complete on-going projects and retire debts.
DLF, the country's largest property developer, might offer another three rent-free months to retailers at its malls in South Delhi, who have begun an agitation against the company.
DLF Ltd is acquiring the privately-held super luxury resorts and spa chain Singapore-based Amanresorts for around $250 million.
Early last year, the company had said it aimed to reduce its debt, which stood over Rs 21,000 crore then, to Rs 10,000-11,000 crore (Rs 100-110 billion) through the sale of non-core assets and improved cash flows.
The company also said that housing loan interest rates would fall in the days ahead.
These trusts are being registered under a new framework.
The artist made a range of paintings for DLF from the mid-1960s to the late 80s.
DLF will appeal against a verdict ordering demolition of the special economic zone in Gurgaon.
DLF wrote to Sebi, asking if the firm's ban on securities transactions extends to mutual fund investments.
DLF, the country's largest property developer, may retrade its apartments at New Town Heights, Gurgaon, and Garden City, Chennai, at a discount. This is to refund buyers who want to exit the projects, according to a senior company official.
Already partnering seven international brands such as Giorgio Armani and Salvatore Ferragamo, it also plans to tie up with 12-15 global brands in the next five years. The company plans to fund its expansion through a mix of equity and debt and go in for tie-ups through joint ventures and franchise routes. The focus of expansion would be in metros such as Delhi, Mumbai, Hyderabad and Chennai in the initial phase, the official said.
The price range and size are yet to be determined, according to the term sheet, which also did not specify the timeframe.
The case has also brought to limelight 'technicalities' involved in the practice of Sebi giving 'observations' and not 'approval or clearance' for an IPO
DLF, India's biggest real estate developer, has repaid dues and may not need to approach lenders to take advantage of a central banks relaxed rule that allows banks to restructure cash-strapped real estate companies loans.
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
This is one of the rare orders by Sebi where it has barred a bluechip firm and its top promoter/executives.
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