Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
FLEXI Show will give the audience the freedom to leave the movie hall at any point while paying only for the time they watched it.
Security agencies searched over 100 hospitals and malls in the national capital after they received bomb threat emails on Tuesday. However, it turned out to be a hoax as nothing suspicious was found, officials said.
With the rise of ultra-luxury housing in India comes ultra-customised marketing. Developers selling high-end homes, priced above Rs 20 crore, are moving away from traditional marketing for these homes to newer methods, such as painstaking profiling of customers before showing them the property, augmented reality for visualisation of interior decor, virtual tours, and closed-door international shows. There is also marketing through online ads, social media influencers, and exclusive memberships.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
The outcome of the Union Budget, quarterly earnings from corporates and global trends are the major factors to drive stock market sentiments this week, analysts said. Besides, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude are also crucial aspects to watch out for.
Persuaded not to sell that day in January 1975, DLF today has assets of over Rs 52,237 crore and a net worth of around Rs 40,000 crore.
The case relates to development and sale of residential units in Gurgaon.
DLF, the company under the cloud due to its not-so-transparent business relations with Robert Vadra, has come out with its defence. The four-page long defence is to help take the pressure off from Congress president Sonia Gandhi whose reputation is at stake.
India's most heavily indebted property firm, DLF has filed an appeal with the Securities Appellate Tribunal (SAT) against a ban from tapping capital markets for three years, a spokeswoman for the appellate told Reuters.
No effect on ongoing projects, says company.
Shares of DLF on Thursday plunged nearly 9 per cent after the Punjab and Haryana High Court set aside the state government's decision to allot 350 acres of land in Gurgaon to the realty major in 2010.
At present, DLF builds apartments under two segments -- luxury and premium (mid-income).
Four years after delisting its shares from the Delhi Stock Exchange, real estate behemoth DLF is knocking at the capital market again selling shares at - hold your breath - 837 times the valuation at which it exited the stock market. Should you buy?
A Sebi spokesperson did not respond to an email seeking comments.
The real estate major plans to bid for upcoming airport modernisation contracts with foreign partner.
A man allegedly killed his 23-year-old wife here and left their two-year-old son locked in a room with the body lying in a pool of blood before jumping to death from a metro station in Ghaziabad, police said on Monday.
The group also plans to nearly halve DLF's debt from Rs 13,958 crore to Rs 7,000 crore by the end of the current financial year by selling around Rs 5,500 crore worth of assets and raising Rs 2,000 crore from the DAL listing, said Singh. Wednesday's divestment will also help reduce DLF's debt by around Rs 1,500 crore since this amount will be given to DAL to repay part of the Rs 4,900 crore it owes the realtor, he added.
For the June quarter, sales for DLF were down 25 per cent at Rs 1,725 crore (Rs 17.25 billion) over the same quarter a year earlier.
Kapil is known to be a keen golfer, whose handicap was almost down to scratch at one time.
DLF has launched a mega discount sale of its properties.
Rejecting Arvind Kejriwal's allegations that DLF favoured Robert Vadra, the realty major has said that the social activist-turned politician was making these charges "out of hat" to gain publicity.
Vadra launched Skylight Hospitality four months after the DLF shares got listed, amid complaints of inadequate disclosure from investor associations and former business partner Kimsuk Krishna Sinha.
The launch of the 19-floor luxury apartment project in Gurgaon's Sector 86 is the first big project from DLF this financial year.
Buoyed by the recovery in the real estate sector, realty giant DLF on Thursday said it will hire people to sustain growth of the company.
Realty major DLF and Bharat Hotels, owners of The Grand group of hotels, are working towards a joint venture for developing and running hotels. While DLF will own the land and be in charge of the actual construction of hotels, the latter will operate
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
It was an individual complainant, seeking action against Rs 34 crore (Rs 340 million) he was allegedly duped, and "sham transactions" involving three 'housewives' that has led to regulator Sebi coming hard on the country's biggest real estate developer DLF and its top executives.
DLFknowingly suppressed material facts: Sebi
Activist Arvind Kejriwal on Sunday described the clarifications of realty major DLF on his allegations that Robert Vadra was given property at throw away prices for government favours as "half truths and lies".
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. "We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 - 20 per cent.
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.
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Owners selling apartments are putting in a clause that if final order allows original buyers to get compensation.
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.
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