DLF has received approval from market regulator Securities and Exchange Board of India for its initial public offer, through which it is expected to raise a record Rs 13,600 crore (Rs 136 billion). "
The company's profit stood at Rs 292.79 crore (Rs 2.92 billion) in the year-ago period.
Given its track record, cautious analysts are monitoring progress on these fronts.
The Delhi government on Friday strongly rejected charges of civil society activists Arvind Kejriwal and Prashant Bhushan that it has allotted land to realty major DLF which in turn allegedly favoured Robert Vadra.
DLF, India's largest real estate developer by market cap, on Monday said it has sold 49 per cent stake in some of its residential projects to private equity investors for a total consideration of Rs 1,675 crore (Rs 16.75 billion).
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.
Leading real estate developer DLF Ltd, which is aiming to raise up to Rs 9,625 crore (Rs 96.25 billion) through its initial public offer, plans to set up three townships in Chandigarh and its suburbs and Shimla.
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.
Confusion prevails on the lock-in period of the about-to-be allotted shares of DLF Universal to the minority shareholders.
India's biggest real estate developer is considering a major human resource redeployment to boost efficiency and productivity. This may lead to a further reduction in its workforce at several recession-hit businesses, which the company denied. DLF plans to restructure verticals such as homes, offices, retail, special economic zones, hotels and infrastructure. At present, all of them have separate human resources, accounts and marketing departments.
Real estate major DLF announced a price band of Rs 500-550 a share for its upcoming initial public offering.
DLF joined the Asian big league in hotel deals after it sold Aman Resorts at around Rs 1,600 crore to the latter's founder, Adrian Zecha.
DLF appears close to bagging a Rs 30 billion convention centre project in Delhi, possibly the biggest in the country, as the company is the only bidder for developing the facility.
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.
DLF Ltd, which aims to raise up to Rs 9,625 crore (Rs 96.25 billion) through the country's largest IPO, plans to invest Rs 3,500 crore (Rs 35 billion) of the proceeds for acquisition of land and development rights in 60 major Indian cities.
The company, which has already taken possession of land for the project -- it was inaugurated just two months ago -- is facing a cash crunch amid the prevailing economic downturn, which has slackened the demand for commercial real estate projects. A source close to the development said DLF was unlikely to go ahead with the project as its cash position was not comfortable and it did not expect many takers for the project due to the economic downturn.
In the March quarter analysts' presentation, the company had said it was targeting to raise a total of Rs 10,000 crore (Rs 100 billion) from non-core asset sales in the medium term.
The National-Capital based realty major will also launch 9-10 million sq ft of real estate projects during the second half of the current financial year.
The country's largest realty firm, DLF, has mopped up about Rs 100 crore (Rs 1 billion) as booking amount for flats it had offered in the second phase of its housing project in the heart of the National Capital.
Gaganjeet Bhullar dazzled with a solid four-under 68 in the final round to register a comprehensive five-stroke win at the DLF Masters golf tournament in Gurgaon on Sunday.
DLF, Unitech and other real estate developers may lower prices up to 30 per cent by mid-2009 to nudge buyers out of their "wait and watch" stance, according to experts.
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.
The developer needs to realise Rs 3,000 crore (Rs 30 billion) to Rs 3,500 crore (Rs 35 billion) from non-core asset sales, to reach its 2011-12 goal.
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 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.
Mumbai land sale part of non-core divestment this year, counters DLF
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.
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.
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.
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
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.
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.
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.
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.
