Mumbai land sale part of non-core divestment this year, counters DLF
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
The company has already booked Rs 5,450 crore (Rs 54.5 billion) revenue from sale of 5 million sq ft it has sold to DAL. DLF on Tuesday clarified to the exchanges that it had been looking at various options from time to time but no definite option had been presented to the board so far for its consideration.
The Kushan Pal Singh-led realty major has halted construction work on nearly 16 million sq ft of office and retail mall space out of the 62 million sq ft of planned construction. In the office space, the developer has stalled construction on nearly 12 million sq ft of office space out of the 36 million sq ft of space being planned.
The Lucknow bench of the Allahabad high court on Thursday reserved its order on the maintainability of a writ petition filed by a local activist -- seeking a probe into allegations of irregularities against Robert Vadra relating to his land transactions with real estate major DLF in Haryana.
In both good and bad times, we will do things that are good for the company and its shareholders. We are not a company that decides strategy on the basis of newspaper articles or analyst comments.
Taking note of a Public Interest Litigation seeking investigation into the alleged nexus between realty giant DLF and businessman Robert Vadra, the Lucknow bench of the Allahabad high court on Thursday directed the central government to submit a reply within the next three weeks.
Ruling out any probe into business dealings between Sonia Gandhi's son-in-law Robert Vadra and realty major DLF, Finance Minister P Chidambaram on Monday said the government cannot look into private transactions unless there are specific allegations of corruption.
A member of the audience participates as Sumo wrestlers perform during the Nissan Konnichiwa Japan 2022 event in New Delhi.
While the thrust will be on pan-India residential projects, office and retail launches, too, will add up to make for the realtor's project mix of 12 to 16 million sq ft during the coming year.
India's largest real estate firm DLF plans to invest about $24 billion for developing two townships in collaboration with Dubai-based Al Nakheel over a period of six years.
While the prices were lower than the market, the lowest effective price was 39 per cent higher than the lowest price it had charged during the first phase of the project this April.
India's largest realty firm DLF on Friday said its net debt increased by nearly Rs 1,000 crore (Rs 10 billion) in the July-September quarter to Rs 22,519 crore (Rs 225.19 billion), mainly due to delayed receipt of payments related to non-core asset sales.
Audit firm points out that the accounting rules do not permit companies to give interest-free loans even to their subsidiaries.
India's richest real estate entrepreneur Kushal Pal Singh on Monday became the country's third trillionaire in rupee terms with a sharp rise of four per cent in his group's flagship company DLF Ltd, pushing its market value to about Rs 1,14,744 crore
Seeking to tap opportunities in Indian rail and mining sectors, UK-based infrastructure company Laing O'Rourke, which has a tie-up with domestic realty major DLF, has acquired Barclay Mowlem
13 companies have submitted more than 230 applications for telecom licences and most of these are for a pan-India UASL. DLF and Omaxe join other real estate firms Indiabulls Real Estate, Unitech and Parsvnath Developers to apply for telecom licence.
DLF Ltd is forging a 50:50 joint venture with Nakheel, a large property developer of the UAE, for two integrated townships in India at a whopping investment of $10 billion.
The country's economy is estimated to grow at 7.2 per cent in 2009-10 from 6.7 per cent last fiscal. Inflation on Monday rose to 8.56 per cent in January from 7.31 per cent in the previous month on various food items turning costlier.
Real estate major DLF and West Bengal government on Monday entered into an agreement to build a township and an industrial hub at Dankuni in the Hooghly district.
The issue received 41.31 crore bids for its 17.5 crore equity shares on offer, the data available on the stock exchanges show.
Income Tax (I-T) Department has issued a fresh notice to realty major DLF even as it's appeal against an additional tax liability imposed on it by the I-T Department is being heard.
Real estate developer K Raheja Universal Private Ltd wants to scrap one of their notified special economic zones and also surrender a part of another zone, citing lack of demand from the information technology sector.
Sports fans in Maharashtra will be deprived of watching any action in the ongoing DLF Cup tri-series.
DLF, the country's biggest property developer, may announce a "relief package" for customers of its second Gurgaon project, 'Express Greens', a few days after it announced a similar package for those who had booked at its 'New Town Heights' residential project, also in Gurgaon.
The move comes 18 months after the cash-strapped developer was allotted 35 acres by the Delhi Development Authority to build and maintain an international convention & exhibition centre, hotels and allied commercial facilities. The cost of the project is estimated at Rs 6,000 crore (Rs 60 billion) and was expected to be completed in three years.
This is the second project in the country in which a metro rail project is being undertaken through a PPP model after the 71-kilometre Hyderabad metro project was won by Maytas Infrastructure. According to industry sources, infrastructure major Larsen & Toubro had also initially shown interest for the project, but backed out finally.
Country's largest realty firm DLF, which has tied up with Dubai-based developer Limitless for developing Rs 60,000-crore (Rs 600 billion) township in Bangalore, has sought government approval for bringing in foreign direct investments worth $ 150 million. Official sources said the issue would be taken by the Foreign Investment Promotion Board (FIPB) on Friday, adding it is likely to get approval. The foreign investment proposal would be given the final clearance by the FM.
DLF Ltd, the country's biggest real estate developer, said its fourth-quarter consolidated profit plunged 93 per cent as buyers deferred purchases and the company was forced to offer discounts to customers at its residential projects.
The Bharatiya Janata Party on Thursday demanded an independent and fair probe into the Robert Vadra-DLF land deal and sought immediate sealing of the entire documentary evidence in this matter.
DLF has entered into an agreement for floating a joint venture with Ranbaxy group company Fortis Healthcare to set up hospitals across the country with about Rs 6,200 crore (Rs 62 billion) of investments.
Real estate major DLF, Mukesh Ambani-promoted Reliance Industries, cinema production and distribution company Eros International, Reliance Anil Dhirubhai Ambani Group and Videocon Industries are believed to be readying to bid for team ownership rights in the Indian Premier League.
Domestic equity markets, which are at record high levels, will be driven by quarterly earnings, global trends and foreign fund movement, analysts said. The movement of rupee and global oil benchmark Brent crude will also be tracked by investors. "The direction of global stock markets, fluctuations in the rupee-to-dollar exchange rate, and movement in crude oil prices will all play a crucial role in influencing the overall market trend.
Gujarat may have missed the IT/ITES bus earlier, but the two upcoming IT/ITES SEZs by K Raheja Corp and DLF are all set to drive the growth of the industry here. As many as 50 companies are likely to set up shops in the two parks coming up in Gandhinagar.
Excess hype often leads to broken hearts and hence it is always necessary to strike a balance, legendary Kapil Dev said on Tuesday in context of India's six-wicket defeat at the hands of Australia in the World Cup final earlier this month.
K P Singh and family, promoters of DLF, are in advanced stages of discussions with leading foreign institutional investors to sell 6 to 7 per cent in India's largest realtor to raise Rs 2,000 crore to Rs 2,500 crore.
The controversy over land deals involving Robert Vadra has taken a new turn with senior Haryana Indian Administrative Service officer Ashok Khemka cancelling the sale of over three acre land to realty major DLF after he was shunted out from his post.
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
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