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.
A member of the audience participates as Sumo wrestlers perform during the Nissan Konnichiwa Japan 2022 event in New Delhi.
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.
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.
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.
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.
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.
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.
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.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
Shares of DLF slipped over 4 per cent on fresh allegations by activist Arvind Kerijwal about company's nexus with Robert Vadra and Haryana Government.
DLF, Indiabulls win Rs 450 cr land deal
DLF, a Delhi-based integrated real estate development company, as part of its strategy for the Bangalore real estate market has lined up two integrated townships worth altogether Rs 400 crore (Rs 4 billion).
AT&T has also applied for a universal access service licence (UASL), which allows operators to offer services in both GSM and CDMA technology, with the Mahindra & Mahindra group, for 22 circles. The US company, however, has stipulated that it wants a majority equity stake in the mobile venture.
A complainant has alleged that he was duped of his land worth Rs 34 crore by the DLF Group and following a direction by the Delhi high court, Sebi has ordered a full-fledged probe into the complaint.
Strong response from institutional buyers has prompted the promoter family of India's largest real estate company DLF to raise the shareholding it had put up for sale from 100 million shares or 6 per cent to 168 million shares or nearly 10 per cent to raise Rs 3,850 crore from qualified institutional investors, including foreign investors.
Realty major DLF has said the Income Tax Authorities have slapped additional tax notices for over Rs 1,700 crore (Rs 17 billion) pertaining to 2008-09 assessment year after being disallowed its profits in SEZ projects.
The country's largest realty player, DLF, on Thursday said it might have to pay additional tax of up to Rs 400 crore (Rs 4 billion) following a special audit of its income for the fiscal 2005-06, by the income-tax authorities.
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.
The classification is based on several factors.
As many as 342 aspirants, including AT&T, DLF and Deutsche Telecom-MoserBaer who failed to get new telecom licences in the last round, may get to bid for spectrum for launching next generation (3G) mobile services.The department of telecom (DoT) is understood to have mooted the proposal to allow those who had applied for licenses between September 25, 2007 and October 1, 2007, to participate in the next generation 3G mobile telephony services.
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.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Are they missing or have they been intentionally removed? A huge uproar has broken out after whistleblower IAS officer Ashok Khemka has revealed that two important pages of a file pertaining to DLF-Robert Vadra land deal, containing notings, are missing.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
In its filing dated March 29, the company has said that its ability to develop the land reserves and generate the estimated developable area are subject to a number of risks such as defective title to the lands which could be legally challenged.
The shares got listed at Rs 582, a 10.85 per cent premium over issue price of Rs 525.
Post-listing, real estate major DLF will find a place among the top-10 companies in terms of market capitalisation.
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
DLF's investment plans for affordable housing coincides with announcement by public sector banks to boost the segment by cutting home-loan interest rates, putting caps of 9.25 per cent for Rs 500,000-20 lakhs (Rs 2 million) and 8.5 per cent for loans of up to Rs 500,000. DLF had raised Rs 1,675 crore (Rs 16.75 billion) as private equity in eight projects in November 2007.
It will raise the money by selling two non-core businesses - luxury hotel chain Amanresorts and wind energy business.
The BSE Realty index on Monday soared 4.3 per cent-most among the 19-sectoral sub-indices-buoyed by the proposal to formalise fractional ownership of real estate in the country. The Securities and Exchange Board of India (Sebi) on Friday issued a discussion paper proposing to regulate online platforms offering fractional ownership in real estate, a model already popular in countries such as the United States and UAE.
A recent survey discovered that Bengaluru has some of the classiest high streets in our country.
As its backyard remains embroiled in tension, Gurugram is exercising caution.
The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
'You will really wish oh! Had I stayed in Dharavi I would have got a nice house. I can assure you that. We will make dreams come true.'
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